Tower Research Capital LLC TRC raised its stake in shares of Carpenter Technology Corp. (NYSE:CRS) by 215.9% during the second quarter, Holdings Channel reports. The fund owned 3,759 shares of the company’s stock after buying an additional 2,569 shares during the period. Tower Research Capital LLC TRC’s holdings in Carpenter Technology Corp. were worth $124,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new position in Carpenter Technology Corp. during the second quarter valued at about $176,000. Teacher Retirement System of Texas increased its position in shares of Carpenter Technology Corp. by 8.6% in the second quarter. Teacher Retirement System of Texas now owns 6,516 shares of the company’s stock worth $215,000 after buying an additional 515 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Carpenter Technology Corp. during the first quarter worth $226,000. Menta Capital LLC purchased a new position in shares of Carpenter Technology Corp. during the first quarter worth $342,000. Finally, DIAM Co. Ltd. increased its position in shares of Carpenter Technology Corp. by 28.9% in the second quarter. DIAM Co. Ltd. now owns 10,700 shares of the company’s stock worth $352,000 after buying an additional 2,400 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Corp. (NYSE:CRS) opened at 39.79 on Wednesday. The company’s 50-day moving average is $38.28 and its 200-day moving average is $35.75. Carpenter Technology Corp. has a 52 week low of $23.99 and a 52 week high of $42.27. The company has a market cap of $1.85 billion, a P/E ratio of 173.00 and a beta of 2.01.
Carpenter Technology Corp. (NYSE:CRS) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. The business earned $457.70 million during the quarter, compared to analysts’ expectations of $454 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s quarterly revenue was down 18.0% compared to the same quarter last year. On average, analysts anticipate that Carpenter Technology Corp. will post $1.56 EPS for the current fiscal year.
A number of brokerages recently weighed in on CRS. Rosenblatt Securities reissued a “buy” rating and set a $42.00 target price on shares of Carpenter Technology Corp. in a research note on Friday, July 8th. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Tuesday, August 16th. Finally, Seaport Global Securities began coverage on shares of Carpenter Technology Corp. in a research note on Friday, September 9th. They set a “neutral” rating and a $38.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$38.20.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of C$38.78, for a total value of C$401,683.24. Following the completion of the transaction, the director now owns 12,613 shares of the company’s stock, valued at approximately C$489,132.14. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.60% of the stock is currently owned by company insiders.
About Carpenter Technology Corp.
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Corp. (NYSE:CRS).
Receive News & Ratings for Carpenter Technology Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology Corp. and related companies with MarketBeat.com's FREE daily email newsletter.