Carpenter Technology Corporation $CRS Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its position in Carpenter Technology Corporation (NYSE:CRS) by 30.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,008 shares of the basic materials company’s stock after acquiring an additional 1,173 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Carpenter Technology were worth $3,089,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the second quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Carpenter Technology in the 1st quarter worth about $30,000. SJS Investment Consulting Inc. boosted its stake in Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after buying an additional 36 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Carpenter Technology in the 2nd quarter valued at about $43,000. Finally, Rakuten Securities Inc. purchased a new stake in Carpenter Technology in the 2nd quarter valued at about $45,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Down 1.7%

Shares of CRS stock opened at $561.14 on Tuesday. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 53.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The firm’s 50 day moving average price is $565.09 and its two-hundred day moving average price is $457.48.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The company had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. During the same period in the previous year, the firm earned $2.21 earnings per share. Carpenter Technology’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts anticipate that Carpenter Technology Corporation will post 12.92 EPS for the current year.

Wall Street Analyst Weigh In

CRS has been the subject of a number of research analyst reports. Susquehanna cut their price objective on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Zacks Research upgraded shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. KeyCorp cut their price target on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $577.25.

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.