Knowledge Leaders Capital LLC Purchases Shares of 47,369 Carpenter Technology Co. (CRS)
Knowledge Leaders Capital LLC acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 47,369 shares of the basic materials company’s stock, valued at approximately $2,415,000. Carpenter Technology accounts for about 2.0% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its 25th largest holding.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its position in Carpenter Technology by 64.5% during the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 1,097 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Carpenter Technology by 90.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 1,529 shares during the last quarter. Turner Investments LLC acquired a new stake in Carpenter Technology during the third quarter valued at $192,000. Public Employees Retirement System of Ohio boosted its position in Carpenter Technology by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 370 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in Carpenter Technology during the third quarter valued at $214,000. 95.91% of the stock is owned by hedge funds and other institutional investors.
In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.51% of the stock is owned by insiders.
A number of analysts recently issued reports on CRS shares. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, October 3rd. KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a research report on Wednesday, October 11th. Finally, Cowen reissued a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.
Carpenter Technology Co. (CRS) traded down $1.30 on Tuesday, reaching $52.42. The company had a trading volume of 394,555 shares, compared to its average volume of 401,240. The firm has a market capitalization of $2,450.00, a PE ratio of 32.56 and a beta of 2.08. Carpenter Technology Co. has a 52-week low of $34.24 and a 52-week high of $54.61. The company has a current ratio of 2.91, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Carpenter Technology had a return on equity of 6.67% and a net margin of 4.06%. The company had revenue of $479.80 million during the quarter, compared to analysts’ expectations of $448.46 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. research analysts forecast that Carpenter Technology Co. will post 2.27 earnings per share for the current year.
Carpenter Technology Company Profile
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.
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