Chartwell Investment Partners LLC raised its holdings in Carpenter Technology Co. (NYSE:CRS) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,006 shares of the basic materials company’s stock after purchasing an additional 1,970 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Carpenter Technology were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in CRS. BlackRock Inc. grew its stake in Carpenter Technology by 1.6% in the 3rd quarter. BlackRock Inc. now owns 5,310,420 shares of the basic materials company’s stock valued at $313,050,000 after purchasing an additional 84,220 shares during the period. Allianz Asset Management GmbH bought a new position in Carpenter Technology in the 3rd quarter valued at $332,000. Jane Street Group LLC lifted its position in shares of Carpenter Technology by 37.0% during the 3rd quarter. Jane Street Group LLC now owns 5,736 shares of the basic materials company’s stock valued at $338,000 after buying an additional 1,548 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Carpenter Technology during the 3rd quarter valued at $287,000. Finally, Pacer Advisors Inc. lifted its position in shares of Carpenter Technology by 12.5% during the 3rd quarter. Pacer Advisors Inc. now owns 16,696 shares of the basic materials company’s stock valued at $984,000 after buying an additional 1,849 shares during the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.
CRS has been the topic of a number of recent research reports. Cowen reaffirmed a “buy” rating and set a $53.00 price target on shares of Carpenter Technology in a research report on Thursday, January 31st. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, April 9th. Finally, ValuEngine raised Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Carpenter Technology has a consensus rating of “Buy” and a consensus price target of $53.50.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 31st. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.10. Carpenter Technology had a return on equity of 9.49% and a net margin of 6.04%. The firm had revenue of $556.50 million for the quarter, compared to analysts’ expectations of $570.66 million. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, research analysts expect that Carpenter Technology Co. will post 3.23 EPS for the current fiscal year.
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Carpenter Technology Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
Read More: Hedge Funds – Risk or Reward?
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