Carpenter Technology Corporation (NYSE:CRS) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC raised its stake in Carpenter Technology Corporation (NYSE:CRS) by 36.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,333 shares of the basic materials company’s stock after purchasing an additional 5,969 shares during the period. Natixis Advisors LLC’s holdings in Carpenter Technology were worth $4,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in shares of Carpenter Technology by 3.9% during the first quarter. M&T Bank Corp now owns 1,541 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 58 shares during the last quarter. Versant Capital Management Inc raised its stake in Carpenter Technology by 27.3% in the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 77 shares during the last quarter. Bessemer Group Inc. lifted 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 valued at $42,000 after purchasing an additional 77 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Carpenter Technology by 13.6% during the 1st quarter. Fifth Third Bancorp now owns 651 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 78 shares during the last quarter. Finally, Mission Wealth Management LP grew its holdings in shares of Carpenter Technology by 4.0% during the first quarter. Mission Wealth Management LP now owns 2,008 shares of the basic materials company’s stock worth $364,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Down 1.7%

Shares of CRS opened at $253.55 on Thursday. Carpenter Technology Corporation has a fifty-two week low of $129.57 and a fifty-two week high of $290.84. The company’s fifty day moving average is $264.07 and its two-hundred day moving average is $219.01. The firm has a market cap of $12.62 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37.

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

Carpenter Technology declared that its Board of Directors has approved a share buyback plan on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Northcoast Research raised shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. BTIG Research reissued a “buy” rating on shares of Carpenter Technology in a research note on Monday. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Thursday, June 12th. Benchmark upped 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. Finally, JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.33.

Insider Buying and Selling at Carpenter Technology

In related news, Director Anastasios John Hart sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $243.72, for a total transaction of $243,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by corporate insiders.

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.