Natixis Advisors LLC Reduces Position in Carpenter Technology Corporation $CRS

Natixis Advisors LLC cut its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,283 shares of the basic materials company's stock after selling 2,354 shares during the quarter. Natixis Advisors LLC's holdings in Carpenter Technology were worth $5,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CRS. Norges Bank purchased a new stake in shares of Carpenter Technology in the fourth quarter worth about $195,254,000. Aspex Management HK Ltd purchased a new stake in shares of Carpenter Technology in the third quarter worth about $136,215,000. TOMS Capital Investment Management LP purchased a new stake in shares of Carpenter Technology in the second quarter worth about $106,683,000. UBS Group AG lifted its holdings in shares of Carpenter Technology by 171.2% in the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company's stock worth $190,951,000 after buying an additional 382,865 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Carpenter Technology by 111.6% in the third quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company's stock worth $151,731,000 after buying an additional 325,919 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carpenter Technology

In other news, Director Anastasios John Hart sold 750 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the sale, the director owned 750 shares in the company, valued at approximately $317,895. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the sale, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRS. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Susquehanna boosted their price target on shares of Carpenter Technology from $470.00 to $495.00 and gave the stock a "positive" rating in a research note on Thursday, April 30th. Wells Fargo & Company boosted their price target on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Weiss Ratings cut shares of Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. Finally, BTIG Research lifted their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and an average price target of $458.63.

Carpenter Technology Stock Up 3.4%

Shares of Carpenter Technology stock opened at $500.18 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $501.79. The stock has a market capitalization of $24.85 billion, a price-to-earnings ratio of 52.65, a P/E/G ratio of 1.79 and a beta of 1.25. The company's 50 day moving average price is $433.74 and its 200-day moving average price is $377.93.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm had revenue of $655.60 million for the quarter, compared to analysts' expectations of $797.00 million. During the same quarter last year, the business earned $1.88 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. Equities research analysts forecast that Carpenter Technology Corporation will post 10.55 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were issued a $0.20 dividend. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology's payout ratio is 8.42%.

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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