Gaddis Premier Wealth Advisors LLC Purchases Shares of 2,195 Carpenter Technology Corporation $CRS

Gaddis Premier Wealth Advisors LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) in the first quarter, Holdings Channel reports. The institutional investor purchased 2,195 shares of the basic materials company’s stock, valued at approximately $865,000.

Several other hedge funds also recently made changes to their positions in the business. Sands Capital Management LLC bought a new stake in shares of Carpenter Technology in the 4th quarter worth approximately $195,731,000. Norges Bank acquired a new stake in Carpenter Technology during the fourth quarter valued at approximately $195,254,000. TOMS Capital Investment Management LP bought a new stake in Carpenter Technology during the second quarter worth approximately $106,683,000. UBS Group AG boosted its holdings in Carpenter Technology by 171.2% during the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock worth $190,951,000 after buying an additional 382,865 shares in the last quarter. Finally, Invesco Ltd. grew its position in Carpenter Technology by 18.8% in the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after buying an additional 327,302 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Down 4.0%

Carpenter Technology stock opened at $553.85 on Friday. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. The firm has a market capitalization of $27.52 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 1.62 and a beta of 1.22. The company has a 50 day moving average price of $522.47 and a 200 day moving average price of $429.51.

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, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 EPS. Research analysts forecast that Carpenter Technology Corporation will post 10.57 EPS for the current year.

Wall Street Analysts Forecast Growth

CRS has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $470.00 to $705.00 and gave the company an “overweight” rating in a report on Tuesday. BTIG Research lifted their target price on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Susquehanna boosted their target price on Carpenter Technology from $495.00 to $680.00 and gave the stock a “positive” rating in a research report on Thursday, July 9th. KeyCorp upped their target price on Carpenter Technology from $459.00 to $644.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $556.75.

Insiders Place Their Bets

In related news, Director Anastasios John Hart sold 750 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the sale, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the sale, the vice president owned 18,344 shares of the company’s stock, valued at $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company’s stock.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.