Knowledge Leaders Capital LLC acquired a new position in Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 47,369 shares of the basic materials company’s stock, valued at approximately $2,415,000. Carpenter Technology makes up 2.0% of Knowledge Leaders Capital LLC’s holdings, making the stock its 25th largest holding. Knowledge Leaders Capital LLC owned approximately 0.10% of Carpenter Technology at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverhead Capital Management LLC grew its holdings in shares of Carpenter Technology by 64.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,097 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Carpenter Technology by 90.2% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 1,529 shares during the last quarter. Turner Investments LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter worth $192,000. Public Employees Retirement System of Ohio grew its holdings in shares of Carpenter Technology by 7.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock worth $210,000 after acquiring an additional 370 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Carpenter Technology in the 3rd quarter worth $214,000. 95.91% of the stock is currently owned by institutional investors.
In other news, COO Joseph E. Haniford sold 11,448 shares of Carpenter Technology stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.51% of the company’s stock.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results 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 6.67% and a net margin of 4.06%. The business had revenue of $479.80 million for the quarter, compared to the consensus estimate of $448.46 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Carpenter Technology’s revenue for the quarter was up 23.3% compared to the same quarter last year. analysts anticipate that Carpenter Technology Co. will post 2.27 EPS for the current fiscal year.
CRS has been the topic of a number of recent research reports. Cowen lifted their target price on Carpenter Technology from $37.00 to $53.00 in a report on Thursday, October 26th. Zacks Investment Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, KeyCorp restated a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.
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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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