JPMorgan Chase & Co. Sells 17,725 Shares of Carpenter Technology Co. (NYSE:CRS)

JPMorgan Chase & Co. cut its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 10.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 150,557 shares of the basic materials company’s stock after selling 17,725 shares during the period. JPMorgan Chase & Co.’s holdings in Carpenter Technology were worth $24,026,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRS. Tyro Capital Management LLC raised its position in shares of Carpenter Technology by 38.8% during the 3rd quarter. Tyro Capital Management LLC now owns 148,749 shares of the basic materials company’s stock valued at $23,737,000 after buying an additional 41,601 shares in the last quarter. Franklin Resources Inc. increased its stake in Carpenter Technology by 9.7% in the third quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company’s stock valued at $57,891,000 after acquiring an additional 32,442 shares during the last quarter. Tidal Investments LLC raised its position in Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology during the third quarter worth about $80,000. Finally, Virtue Capital Management LLC bought a new stake in Carpenter Technology during the third quarter worth about $860,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Up 1.4 %

Shares of NYSE:CRS opened at $183.60 on Thursday. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $198.24. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $178.44 and its 200-day moving average price is $152.89. The stock has a market capitalization of $9.15 billion, a P/E ratio of 40.89, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same period in the previous year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CRS shares. Benchmark reiterated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology 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.