Sei Investments Co. increased its position in Carpenter Technology Corporation (NYSE:CRS – Free Report) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 89,835 shares of the basic materials company’s stock after acquiring an additional 7,252 shares during the quarter. Sei Investments Co.’s holdings in Carpenter Technology were worth $35,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in Carpenter Technology by 10.1% in the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after acquiring an additional 192,533 shares during the period. Invesco Ltd. grew its stake in shares of Carpenter Technology by 18.8% during the 4th quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock valued at $652,241,000 after purchasing an additional 327,302 shares during the period. Egerton Capital UK LLP increased its position in shares of Carpenter Technology by 13.0% during the 4th quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock valued at $488,950,000 after purchasing an additional 178,679 shares during the last quarter. SurgoCap Partners LP increased its position in shares of Carpenter Technology by 29.5% during the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after purchasing an additional 272,896 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Carpenter Technology by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after purchasing an additional 78,588 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Insiders Place Their Bets
In other news, Director Anastasios John Hart sold 750 shares of the stock in a transaction on Monday, May 4th. The shares were 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 $317,895. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the sale, 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Stock Analysis on CRS
Carpenter Technology Trading Up 0.0%
Shares of NYSE:CRS opened at $603.70 on Monday. The stock has a 50 day moving average of $541.18 and a 200 day moving average of $440.36. The company has a market cap of $30.00 billion, a PE ratio of 63.55, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $625.98. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.
Carpenter Technology (NYSE:CRS – Get Free Report) last released its earnings results 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 net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same quarter last year, the business earned $1.88 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Carpenter Technology Corporation will post 10.58 EPS for the current year.
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.
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