GAMMA Investing LLC Has $177,000 Stock Position in Carpenter Technology Co. (NYSE:CRS)

GAMMA Investing LLC boosted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CRS. American International Group Inc. raised its position in shares of Carpenter Technology by 0.7% during the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after buying an additional 188 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Carpenter Technology by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after acquiring an additional 215 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock worth $1,835,000 after acquiring an additional 281 shares during the period. Comerica Bank grew its holdings in shares of Carpenter Technology by 1.2% during the 4th quarter. Comerica Bank now owns 24,931 shares of the basic materials company’s stock worth $1,765,000 after purchasing an additional 307 shares in the last quarter. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $29,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Marshall D. Akins sold 4,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total transaction of $445,518.34. Following the transaction, the vice president now directly owns 23,014 shares in the company, valued at $2,352,721.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP James D. Dee sold 23,518 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total value of $2,616,612.68. Following the transaction, the senior vice president now owns 84,798 shares in the company, valued at $9,434,625.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Marshall D. Akins sold 4,358 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $102.23, for a total value of $445,518.34. Following the sale, the vice president now directly 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.

Carpenter Technology Price Performance

Shares of CRS traded up $6.09 on Tuesday, hitting $139.09. The company’s stock had a trading volume of 374,000 shares, compared to its average volume of 609,105. The company has a market capitalization of $6.90 billion, a PE ratio of 50.58, a PEG ratio of 0.85 and a beta of 1.43. Carpenter Technology Co. has a fifty-two week low of $56.42 and a fifty-two week high of $148.94. The company has a 50 day moving average price of $113.36 and a 200 day moving average price of $89.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The company had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Carpenter Technology Co. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.