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.
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.
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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.
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