Meeder Asset Management Inc. Sells 1,751 Shares of Carpenter Technology Corporation $CRS

Meeder Asset Management Inc. trimmed its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 80.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 423 shares of the basic materials company’s stock after selling 1,751 shares during the quarter. Meeder Asset Management Inc.’s holdings in Carpenter Technology were worth $167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. raised its holdings in Carpenter Technology by 3.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after buying an additional 32 shares during the last quarter. Abel Hall LLC grew its holdings in shares of Carpenter Technology by 3.2% during the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after buying an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC grew its holdings in shares of Carpenter Technology by 2.4% during the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after buying an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Carpenter Technology by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after acquiring an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 36 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $587.97 on Wednesday. The firm’s 50-day moving average price is $530.80 and its 200-day moving average price is $434.74. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The company has a market cap of $29.22 billion, a PE ratio of 61.89, a PEG ratio of 1.56 and a beta of 1.22. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $625.98.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same period in the previous year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Carpenter Technology Corporation will post 10.58 EPS for the current year.

Insider Activity at Carpenter Technology

In related news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

CRS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Susquehanna increased their target price on Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. Weiss Ratings lowered Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. KeyCorp boosted their price target on Carpenter Technology from $459.00 to $644.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Finally, TD Cowen upped their price target on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $556.75.

Carpenter Technology Profile

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.