Carpenter Technology Corporation $CRS Holdings Reduced by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC has reduced its position in Carpenter Technology Corporation (NYSE:CRS) by 2.3%, now holding 112,090 shares valued at approximately $20.3 million.
• Several institutional investors, including Bosun Asset Management LLC and Advisors Asset Management Inc., have significantly increased their holdings in Carpenter Technology during the first quarter, with up to 344,580% increase reported by Amundi.
• Carpenter Technology recently announced a quarterly dividend of $0.20 per share, with a dividend yield of 0.3%, alongside reporting earnings results that exceeded analysts' expectations despite a decrease in revenue year-over-year.

Curi RMB Capital LLC lowered its position in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,090 shares of the basic materials company's stock after selling 2,628 shares during the quarter. Curi RMB Capital LLC owned about 0.23% of Carpenter Technology worth $20,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRS. Bosun Asset Management LLC grew its holdings in Carpenter Technology by 34.7% in the 1st quarter. Bosun Asset Management LLC now owns 8,042 shares of the basic materials company's stock worth $1,457,000 after buying an additional 2,072 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Carpenter Technology by 39.5% in the first quarter. Advisors Asset Management Inc. now owns 22,232 shares of the basic materials company's stock worth $4,028,000 after purchasing an additional 6,293 shares in the last quarter. Amundi increased its holdings in shares of Carpenter Technology by 344,580.0% during the first quarter. Amundi now owns 51,702 shares of the basic materials company's stock valued at $8,610,000 after purchasing an additional 51,687 shares during the period. Advent International L.P. increased its holdings in shares of Carpenter Technology by 12.1% during the first quarter. Advent International L.P. now owns 804,832 shares of the basic materials company's stock valued at $145,819,000 after purchasing an additional 87,186 shares during the period. Finally, PDT Partners LLC raised its stake in shares of Carpenter Technology by 199.7% during the first quarter. PDT Partners LLC now owns 29,115 shares of the basic materials company's stock valued at $5,275,000 after purchasing an additional 19,400 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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, Director I Martin Inglis sold 5,691 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the completion of the transaction, the director owned 6,732 shares of the company's stock, valued at approximately $1,646,243.28. The trade was a 45.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,691 shares of company stock worth $6,290,207 in the last three months. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Stock Performance

NYSE:CRS opened at $235.61 on Thursday. The company has a 50-day moving average of $262.02 and a 200-day moving average of $225.53. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.52. 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 Corporation has a twelve month low of $129.57 and a twelve month high of $290.84.

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

Carpenter Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.

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