Carpenter Technology Co. (NYSE:CRS) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 8.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,323 shares of the basic materials company’s stock after acquiring an additional 31,314 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.82% of Carpenter Technology worth $18,460,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its holdings in Carpenter Technology by 64.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock valued at $105,000 after buying an additional 1,097 shares during the period. Turner Investments LLC purchased a new stake in Carpenter Technology during the 3rd quarter valued at $192,000. Public Employees Retirement System of Ohio raised its holdings in Carpenter Technology by 7.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after buying an additional 370 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in Carpenter Technology during the 3rd quarter valued at $214,000. Finally, Wrapmanager Inc. bought a new position in Carpenter Technology in the 3rd quarter valued at $216,000. Institutional investors own 95.91% of the company’s stock.

Shares of Carpenter Technology Co. (NYSE:CRS) traded up $1.71 during mid-day trading on Thursday, reaching $54.09. The company had a trading volume of 993,760 shares, compared to its average volume of 408,158. Carpenter Technology Co. has a 12 month low of $34.24 and a 12 month high of $54.44. The company has a market capitalization of $2,530.00, a P/E ratio of 33.60 and a beta of 2.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Carpenter Technology had a return on equity of 7.66% and a net margin of 4.88%. The company had revenue of $479.80 million for the quarter, compared to the consensus estimate of $448.46 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. sell-side analysts predict that Carpenter Technology Co. will post 2.27 EPS for the current fiscal year.

In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.51% of the company’s stock.

CRS has been the topic of several research analyst reports. Cowen upped their price objective on Carpenter Technology from $37.00 to $53.00 in a research report on Thursday, October 26th. 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, October 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Carpenter Technology has a consensus rating of “Hold” and a consensus target price of $50.80.

TRADEMARK VIOLATION NOTICE: “Carpenter Technology Co. (NYSE:CRS) Shares Bought by Schwab Charles Investment Management Inc.” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://stocknewstimes.com/2018/01/11/schwab-charles-investment-management-inc-has-18-46-million-stake-in-carpenter-technology-co-crs.html.

About Carpenter Technology

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.

Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

Receive News & Ratings for Carpenter Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply