Ameritas Investment Partners Inc. Trims Stock Position in Carpenter Technology Co. (NYSE:CRS)

Ameritas Investment Partners Inc. trimmed its holdings in Carpenter Technology Co. (NYSE:CRS) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,888 shares of the basic materials company’s stock after selling 180 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Carpenter Technology were worth $349,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in Carpenter Technology by 32.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,988 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 987 shares in the last quarter. Fifth Third Bancorp increased its holdings in Carpenter Technology by 322.5% in the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 887 shares in the last quarter. Veracity Capital LLC lifted its holdings in Carpenter Technology by 22.2% during the fourth quarter. Veracity Capital LLC now owns 14,031 shares of the basic materials company’s stock valued at $993,000 after purchasing an additional 2,548 shares in the last quarter. JB Capital LLC lifted its holdings in Carpenter Technology by 7.4% during the fourth quarter. JB Capital LLC now owns 20,431 shares of the basic materials company’s stock valued at $1,447,000 after purchasing an additional 1,410 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Carpenter Technology by 1.1% during the fourth quarter. New York State Teachers Retirement System now owns 66,948 shares of the basic materials company’s stock worth $4,740,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Insider Activity

In related news, Director Steven E. Karol sold 31,000 shares of Carpenter Technology stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the sale, the director now owns 244,126 shares in the company, valued at approximately $24,551,751.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carpenter Technology news, VP Marshall D. Akins sold 4,358 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total transaction of $445,518.34. Following the sale, the vice president now directly owns 23,014 shares in the company, valued at approximately $2,352,721.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven E. Karol sold 31,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the transaction, the director now owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,678 shares of company stock valued at $6,261,693. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRS shares. Deutsche Bank Aktiengesellschaft began coverage on Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective on the stock. TD Cowen increased their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Northcoast Research restated a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a research report on Friday, June 14th. BTIG Research began coverage on shares of Carpenter Technology in a report on Wednesday, June 26th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Benchmark restated a “buy” rating and issued a $140.00 price target on shares of Carpenter Technology in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

Carpenter Technology Trading Down 2.7 %

Shares of Carpenter Technology stock opened at $121.51 on Thursday. The stock has a 50 day moving average of $108.56 and a 200 day moving average of $85.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 3.20. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 46.20 and a beta of 1.44. Carpenter Technology Co. has a fifty-two week low of $55.92 and a fifty-two week high of $126.36.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The business had revenue of $684.90 million during the quarter, compared to analysts’ expectations of $707.73 million. During the same period in the prior year, the business posted $0.38 EPS. The company’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that Carpenter Technology Co. will post 4.44 earnings per share for the current 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.