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

JPMorgan Chase & Co. cut its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 10.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,557 shares of the basic materials company's stock after selling 17,725 shares during the period. JPMorgan Chase & Co. owned approximately 0.30% of Carpenter Technology worth $24,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC lifted its holdings in shares of Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company's stock valued at $2,763,000 after purchasing an additional 100 shares in the last quarter. KBC Group NV raised its holdings in Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock worth $216,000 after buying an additional 161 shares during the period. Arete Wealth Advisors LLC lifted its stake in Carpenter Technology by 7.5% in the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company's stock valued at $384,000 after buying an additional 169 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after buying an additional 178 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company's stock valued at $353,000 after buying an additional 180 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CRS. Benchmark reaffirmed a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price target on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and an average price target of $153.00.

Carpenter Technology Stock Up 1.4 %

Carpenter Technology stock traded up $2.47 during mid-day trading on Thursday, reaching $183.60. The company's stock had a trading volume of 477,194 shares, compared to its average volume of 624,259. The business's 50 day simple moving average is $179.13 and its 200 day simple moving average is $153.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 40.89, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55.

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

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.