Advent International L.P. Has $136.99 Million Stake in Carpenter Technology Corporation $CRS

Key Points

• Advent International cut its stake in Carpenter Technology by 17.4% in Q3 and now holds 557,903 shares — about $136.99 million or 1.12% of the company, making CRS its seventh-largest position (≈2.8% of Advent's portfolio).
• Company insiders have been net sellers, disposing of 22,300 shares worth about $8.66 million over the past 90 days (notably SVP James D. Dee and Director Steven E. Karol), leaving insiders with roughly 2.90% ownership.
• Analysts are broadly bullish with nine Buy and two Hold ratings and a consensus target of $385.50; Carpenter recently beat Q earnings estimates (EPS $2.33 vs. $2.20) while revenue rose 7.5% year-over-year to $728 million.

Advent International L.P. decreased its position in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 17.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 557,903 shares of the basic materials company's stock after selling 117,429 shares during the period. Carpenter Technology accounts for about 2.8% of Advent International L.P.'s investment portfolio, making the stock its 7th biggest position. Advent International L.P. owned approximately 1.12% of Carpenter Technology worth $136,988,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRS. Woodline Partners LP bought a new position in shares of Carpenter Technology during the 1st quarter worth $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Carpenter Technology by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company's stock valued at $18,985,000 after acquiring an additional 1,701 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Carpenter Technology by 7.3% in the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company's stock valued at $836,000 after acquiring an additional 314 shares in the last quarter. AE Wealth Management LLC purchased a new stake in Carpenter Technology in the second quarter worth about $234,000. Finally, SBI Securities Co. Ltd. grew its holdings in Carpenter Technology by 860.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 490 shares of the basic materials company's stock worth $135,000 after acquiring an additional 439 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling at Carpenter Technology

In other news, SVP James D. Dee sold 15,800 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the sale, the senior vice president owned 73,739 shares in the company, valued at approximately $28,889,465.42. The trade was a 17.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the completion of the transaction, the director directly owned 225,381 shares in the company, valued at approximately $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Carpenter Technology from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Susquehanna initiated coverage on shares of Carpenter Technology in a research note on Tuesday, March 3rd. They issued a "positive" rating and a $470.00 price objective for the company. Finally, BTIG Research upped their target price on Carpenter Technology from $365.00 to $375.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $385.50.

Carpenter Technology Stock Performance

CRS stock opened at $362.00 on Friday. Carpenter Technology Corporation has a one year low of $138.61 and a one year high of $412.31. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.26 and a current ratio of 4.25. The firm has a 50-day simple moving average of $359.94 and a two-hundred day simple moving average of $311.85.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.20 by $0.13. The firm had revenue of $728.00 million during the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. Carpenter Technology's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 EPS. On average, equities analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology's dividend payout ratio (DPR) is presently 9.29%.

About Carpenter Technology

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

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