Natixis Advisors LLC Acquires 1,343 Shares of Carpenter Technology Co. (NYSE:CRS)

Natixis Advisors LLC raised its stake in Carpenter Technology Co. (NYSE:CRS) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,817 shares of the basic materials company’s stock after acquiring an additional 1,343 shares during the quarter. Natixis Advisors LLC’s holdings in Carpenter Technology were worth $3,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Carpenter Technology by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock valued at $406,096,000 after purchasing an additional 15,564 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after buying an additional 479,047 shares during the period. Wolf Hill Capital Management LP acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at $73,850,000. Bayberry Capital Partners LP bought a new stake in shares of Carpenter Technology during the first quarter worth $35,887,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Price Performance

Shares of CRS stock opened at $190.97 on Friday. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46. The firm has a fifty day moving average of $162.86 and a 200-day moving average of $135.60. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $192.34. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same period in the previous year, the firm posted $0.88 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.61 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Carpenter Technology’s payout ratio is 17.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research boosted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a report on Friday. They issued an “overweight” rating and a $220.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average price target of $153.00.

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.