Natixis Advisors LLC lessened its stake in Carpenter Technology Corporation (NYSE:CRS – Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of CRS. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology in the 2nd quarter worth about $28,000. Armstrong Advisory Group Inc. raised its position in shares of Carpenter Technology by 57.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares during the last quarter. Spire Wealth Management boosted its stake in Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 84 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Carpenter Technology during the 2nd quarter valued at $43,000. Finally, Rakuten Securities Inc. purchased a new stake in Carpenter Technology during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Insider Buying and Selling
In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was 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 disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.
Carpenter Technology Price Performance
Carpenter Technology (NYSE:CRS – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $797.00 million. During the same quarter in the prior year, the firm earned $1.88 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology Corporation will post 10.55 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio is presently 8.42%.
Analyst Ratings Changes
CRS has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. 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. KeyCorp boosted their target price on Carpenter Technology from $453.00 to $459.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their target price on Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, BTIG Research raised their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average target price of $458.63.
View Our Latest Research Report on CRS
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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.
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