Carmignac Gestion Has $19.76 Million Holdings in Carpenter Technology Corporation $CRS

Key Points

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Carmignac Gestion increased its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,052 shares of the basic materials company's stock after purchasing an additional 3,252 shares during the quarter. Carmignac Gestion owned 0.22% of Carpenter Technology worth $19,758,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its holdings in 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 worth $538,000 after acquiring an additional 553 shares during the period. Bessemer Group Inc. boosted its holdings in Carpenter Technology by 50.3% in the 1st quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock worth $42,000 after acquiring an additional 77 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 worth $2,890,000 after acquiring an additional 3,467 shares during the period. Fifth Third Bancorp boosted its holdings in Carpenter Technology by 13.6% in the 1st quarter. Fifth Third Bancorp now owns 651 shares of the basic materials company's stock worth $118,000 after acquiring an additional 78 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Carpenter Technology in the 4th quarter worth approximately $18,731,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Anastasios John Hart sold 1,000 shares of Carpenter Technology stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $243.72, for a total value of $243,720.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $244.99, for a total value of $4,654,810.00. Following the completion of the transaction, the chief executive officer directly owned 535,019 shares in the company, valued at $131,074,304.81. This represents a 3.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,691 shares of company stock valued at $6,290,207. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Price Performance

NYSE:CRS traded up $2.4910 during mid-day trading on Friday, reaching $243.8210. 1,015,393 shares of the stock were exchanged, compared to its average volume of 921,271. The business has a fifty day moving average price of $264.52 and a 200 day moving average price of $222.66. The firm has a market capitalization of $12.15 billion, a PE ratio of 32.86, a PEG ratio of 1.12 and a beta of 1.44. Carpenter Technology Corporation has a 1-year low of $129.57 and a 1-year high of $290.84. The company has a current ratio of 3.65, a quick ratio of 2.01 and a debt-to-equity ratio of 0.37.

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

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Tuesday, August 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Carpenter Technology's dividend payout ratio (DPR) is currently 10.78%.

Carpenter Technology Company 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.