KBC Group NV Has $5.32 Million Position in Carpenter Technology Corporation $CRS

KBC Group NV grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS) by 784.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,502 shares of the basic materials company’s stock after acquiring an additional 11,976 shares during the period. KBC Group NV’s holdings in Carpenter Technology were worth $5,322,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Woodline Partners LP bought a new position in Carpenter Technology during the 1st quarter worth approximately $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after purchasing an additional 1,701 shares in the last quarter. Focus Partners Wealth raised its stake in Carpenter Technology by 7.3% during the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock worth $836,000 after buying an additional 314 shares during the period. Quantbot Technologies LP acquired a new position in shares of Carpenter Technology during the second quarter worth approximately $80,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Carpenter Technology during the second quarter worth $533,000. 92.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the sale, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anastasios John Hart sold 750 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following 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. Insiders own 2.90% of the company’s stock.

Carpenter Technology Trading Up 2.1%

Shares of CRS opened at $600.28 on Friday. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The company has a market capitalization of $29.83 billion, a P/E ratio of 63.19, a P/E/G ratio of 1.65 and a beta of 1.22. The firm’s 50 day simple moving average is $537.28 and its 200 day simple moving average is $438.51.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company 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 earned $1.88 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Carpenter Technology Corporation will post 10.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRS shares. KeyCorp lifted their target price on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Susquehanna lifted their price objective on shares of Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research report on Thursday, July 9th. BTIG Research lifted their price objective on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. One investment 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 MarketBeat.com, Carpenter Technology presently has an average rating of “Buy” and an average price target of $556.75.

Carpenter Technology Company 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.