Carpenter Technology Corporation $CRS Shares Bought by Amundi

Key Points

• Amundi has significantly increased its holdings in Carpenter Technology Corporation, growing its position by 344,580.0% to own 51,702 shares valued at approximately $8.61 million.
• Carpenter Technology recently reported an EPS of $2.21, surpassing analysts' expectations, despite facing a 5.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.20, translating to an annual yield of 0.3%, and has a dividend payout ratio of 10.78%.

Amundi increased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 344,580.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,702 shares of the basic materials company's stock after buying an additional 51,687 shares during the period. Amundi owned about 0.10% of Carpenter Technology worth $8,610,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. increased its position in shares of Carpenter Technology by 22.9% in the 1st quarter. Stratos Wealth Partners LTD. now owns 2,968 shares of the basic materials company's stock valued at $538,000 after purchasing an additional 553 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Carpenter Technology by 50.3% in the 1st quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 77 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Carpenter Technology by 27.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,953 shares of the basic materials company's stock valued at $2,890,000 after purchasing an additional 3,467 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Carpenter Technology by 13.6% in the 1st quarter. Fifth Third Bancorp now owns 651 shares of the basic materials company's stock valued at $118,000 after purchasing an additional 78 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Carpenter Technology in the 1st quarter valued at approximately $678,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Carpenter Technology

In other news, CEO Tony R. Thene sold 19,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $244.99, for a total value of $4,654,810.00. Following the completion of the sale, the chief executive officer owned 535,019 shares in the company, valued at approximately $131,074,304.81. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 3,433 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total transaction of $843,762.74. Following the completion of the sale, the director owned 180,000 shares of the company's stock, valued at $44,240,400. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,124 shares of company stock worth $6,890,250. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BTIG Research reaffirmed a "buy" rating on shares of Carpenter Technology in a research report on Monday, August 4th. JPMorgan Chase & Co. increased their target price on shares of Carpenter Technology from $245.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Benchmark increased their target price on shares of Carpenter Technology from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Carpenter Technology in a research report on Thursday, June 12th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $278.33.

Carpenter Technology Stock Performance

NYSE:CRS traded down $3.09 during trading hours on Friday, reaching $240.09. 809,199 shares of the company's stock were exchanged, compared to its average volume of 782,164. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 1.11 and a beta of 1.52. The company has a 50-day moving average of $257.68 and a 200 day moving average of $227.66. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37. Carpenter Technology Corporation has a 1-year low of $138.61 and a 1-year high of $290.84.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.18. The firm had revenue of $755.60 million during the quarter, compared to analysts' expectations of $790.73 million. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. Carpenter Technology's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 EPS. Research analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Tuesday, August 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 26th. Carpenter Technology's dividend payout ratio (DPR) is 10.78%.

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.