Amundi Grows Position in Carpenter Technology Corporation $CRS

Key Points

• Amundi increased its Carpenter Technology stake by 126.9% in the first quarter, bringing its holdings to 6,639 shares valued at approximately $2.6 million. Institutional investors collectively own 92.03% of the company.
• Carpenter Technology reported quarterly EPS of $3.23, exceeding the $3.09 analyst consensus, while revenue rose 12.6% year over year to $679.7 million—below the $863.3 million estimate.
• Despite shares trading down 2.4% at $556.93, analysts maintain a consensus “Buy” rating with a $577.25 target price; recent targets range from $500 to $700.

Amundi grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 126.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,639 shares of the basic materials company's stock after buying an additional 3,713 shares during the period. Amundi's holdings in Carpenter Technology were worth $2,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of Carpenter Technology by 10.1% in the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company's stock worth $514,687,000 after purchasing an additional 192,533 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company's stock valued at $652,241,000 after buying an additional 327,302 shares during the last quarter. Egerton Capital UK LLP increased its position in shares of Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company's stock valued at $488,950,000 after acquiring an additional 178,679 shares in the last quarter. SurgoCap Partners LP increased its position in shares of Carpenter Technology by 29.5% during the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company's stock valued at $294,377,000 after acquiring an additional 272,896 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Carpenter Technology by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company's stock valued at $307,333,000 after acquiring an additional 78,588 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Trading Down 2.4%

NYSE:CRS opened at $556.93 on Friday. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98. The business has a fifty day moving average price of $561.58 and a 200-day moving average price of $454.22. The firm has a market capitalization of $27.67 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $3.09 by $0.14. The company had revenue of $679.70 million for the quarter, compared to analysts' expectations of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm's revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.21 EPS. Sell-side analysts forecast that Carpenter Technology Corporation will post 12.92 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their price target on Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Wells Fargo & Company upped their price target on Carpenter Technology from $425.00 to $540.00 and gave the company an "equal weight" rating in a report on Tuesday. KeyCorp dropped their price objective on Carpenter Technology from $644.00 to $608.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Zacks Research upgraded Carpenter Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $577.25.

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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