Amundi Acquires 12,612 Shares of Carpenter Technology Corporation $CRS

Amundi grew its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 24.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 64,314 shares of the basic materials company’s stock after buying an additional 12,612 shares during the period. Amundi’s holdings in Carpenter Technology were worth $17,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CRS. Advent International L.P. raised its stake in shares of Carpenter Technology by 12.1% during the 1st 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. American Century Companies Inc. boosted its stake in Carpenter Technology by 13.9% in the 1st quarter. American Century Companies Inc. now owns 588,889 shares of the basic materials company’s stock worth $106,695,000 after purchasing an additional 71,747 shares during the period. Driehaus Capital Management LLC grew its holdings in Carpenter Technology by 79.2% during the 1st quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock valued at $103,806,000 after buying an additional 253,163 shares in the last quarter. Forest Avenue Capital Management LP lifted its stake in Carpenter Technology by 81.8% in the 1st quarter. Forest Avenue Capital Management LP now owns 548,067 shares of the basic materials company’s stock worth $99,299,000 after purchasing an additional 246,599 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Carpenter Technology by 29.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 503,335 shares of the basic materials company’s stock valued at $91,194,000 after purchasing an additional 114,435 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Trading Up 1.2%

Shares of CRS stock opened at $304.12 on Thursday. The business has a 50-day moving average price of $295.20 and a two-hundred day moving average price of $268.66. Carpenter Technology Corporation has a 12-month low of $138.61 and a 12-month high of $342.11. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.15 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 1.26 and a beta of 1.31.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.13 by $0.30. The firm had revenue of $733.70 million for the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. Equities analysts anticipate that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, October 21st. Carpenter Technology’s payout ratio is presently 9.78%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRS. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. BTIG Research upped their target price on Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Zacks Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Jones Trading initiated coverage on Carpenter Technology in a report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $371.14.

Insider Activity

In other news, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the sale, the vice president owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This represents a 28.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

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.