Bauman Advisory Group LLC Invests $471,000 in Carpenter Technology Corporation $CRS

Bauman Advisory Group LLC acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) in the first quarter, Holdings Channel.com reports. The fund acquired 1,194 shares of the basic materials company’s stock, valued at approximately $471,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Carpenter Technology during the 1st quarter valued at about $30,000. SJS Investment Consulting Inc. increased its stake in Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 36 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Carpenter Technology during the second quarter worth about $28,000. Armstrong Advisory Group Inc. lifted its position in shares of Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRS shares. KeyCorp lifted their price objective on shares of Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a report on Tuesday. TD Cowen raised their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research report on Monday. BTIG Research boosted their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings lowered Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $556.75.

Insider Buying and Selling

In related news, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology 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 completion of the transaction, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the business’s 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 transaction, the director owned 750 shares of the company’s stock, valued at $317,895. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by insiders.

Carpenter Technology Price Performance

CRS stock opened at $553.85 on Friday. The business’s 50-day moving average is $522.47 and its two-hundred day moving average is $429.51. 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 firm has a market capitalization of $27.52 billion, a P/E ratio of 58.30, a P/E/G ratio of 1.62 and a beta of 1.22. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $625.98.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data 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 return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same period in the previous year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts anticipate that Carpenter Technology Corporation will post 10.57 earnings per share for the current fiscal year.

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.