Natixis Advisors LLC Reduces Holdings in Carpenter Technology Co. (NYSE:CRS)

Natixis Advisors LLC trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 31.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,364 shares of the basic materials company’s stock after selling 7,453 shares during the quarter. Natixis Advisors LLC’s holdings in Carpenter Technology were worth $2,777,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd increased its position in shares of Carpenter Technology by 200.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 3,600 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 2,400 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Carpenter Technology by 1.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,880 shares of the basic materials company’s stock worth $1,846,000 after purchasing an additional 160 shares in the last quarter. Swiss National Bank increased its position in shares of Carpenter Technology by 1.5% during the fourth quarter. Swiss National Bank now owns 93,400 shares of the basic materials company’s stock worth $15,851,000 after purchasing an additional 1,400 shares in the last quarter. Securian Asset Management Inc. purchased a new stake in shares of Carpenter Technology during the fourth quarter worth approximately $639,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 71 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRS shares. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $183.75 on Monday. Carpenter Technology Co. has a 52 week low of $67.52 and a 52 week high of $213.66. The business’s fifty day simple moving average is $194.95 and its 200-day simple moving average is $177.42. The firm has a market cap of $9.18 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Equities analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

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.