GAMMA Investing LLC Buys 136 Shares of Carpenter Technology Co. (NYSE:CRS)

GAMMA Investing LLC lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,614 shares of the basic materials company’s stock after purchasing an additional 136 shares during the quarter. GAMMA Investing LLC’s holdings in Carpenter Technology were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in shares of Carpenter Technology by 91.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock worth $1,799,000 after buying an additional 12,129 shares during the last quarter. Harvest Investment Services LLC acquired a new position in Carpenter Technology in the 4th quarter worth about $826,000. Consolidated Portfolio Review Corp bought a new position in Carpenter Technology in the fourth quarter valued at about $1,297,000. Phocas Financial Corp. acquired a new stake in shares of Carpenter Technology during the fourth quarter valued at about $3,396,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Carpenter Technology by 13.2% during the first quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after purchasing an additional 17,400 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRS. BTIG Research upped their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark raised their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Northcoast Research reiterated a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective for the company. Finally, TD Cowen lifted their target price on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Trading Up 4.6 %

Shares of NYSE:CRS traded up $6.09 during trading on Tuesday, reaching $139.09. The stock had a trading volume of 374,000 shares, compared to its average volume of 609,105. Carpenter Technology Co. has a 52 week low of $56.42 and a 52 week high of $148.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The firm’s fifty day moving average is $113.36 and its 200 day moving average is $89.75. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 0.85 and a beta of 1.43.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business had revenue of $798.70 million for the quarter, compared to analysts’ expectations of $763.76 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Carpenter Technology Co. will post 5.84 EPS for the current fiscal year.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, VP Marshall D. Akins sold 4,358 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $102.23, for a total value of $445,518.34. Following the completion of the sale, the vice president now directly owns 23,014 shares in the company, valued at $2,352,721.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP James D. Dee sold 23,518 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the transaction, the senior vice president now directly owns 84,798 shares of the company’s stock, valued at $9,434,625.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Marshall D. Akins sold 4,358 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $102.23, for a total transaction of $445,518.34. Following the completion of the sale, the vice president now owns 23,014 shares of the company’s stock, valued at $2,352,721.22. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

About Carpenter Technology

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.