Renaissance Technologies LLC lessened its position in shares of Carpenter Technology Co. (NYSE:CRS) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,800 shares of the basic materials company’s stock after selling 73,900 shares during the period. Renaissance Technologies LLC owned 0.41% of Carpenter Technology worth $9,729,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ETRADE Capital Management LLC bought a new position in Carpenter Technology during the fourth quarter worth $202,000. Amundi Pioneer Asset Management Inc. bought a new position in Carpenter Technology during the fourth quarter worth $103,000. Kennedy Capital Management Inc. grew its holdings in Carpenter Technology by 466.4% in the fourth quarter. Kennedy Capital Management Inc. now owns 490,698 shares of the basic materials company’s stock worth $25,021,000 after purchasing an additional 404,070 shares during the period. Geode Capital Management LLC grew its holdings in Carpenter Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 382,614 shares of the basic materials company’s stock worth $19,509,000 after purchasing an additional 2,741 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Carpenter Technology by 231.1% in the fourth quarter. Brown Advisory Inc. now owns 20,200 shares of the basic materials company’s stock worth $1,030,000 after purchasing an additional 14,100 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.
NYSE:CRS opened at $45.59 on Friday. The company has a quick ratio of 1.00, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2,137.51, a price-to-earnings ratio of 22.12 and a beta of 2.02. Carpenter Technology Co. has a 12 month low of $34.24 and a 12 month high of $54.61.
Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $487.80 million during the quarter, compared to analysts’ expectations of $482.20 million. Carpenter Technology had a net margin of 8.30% and a return on equity of 7.94%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.15 earnings per share. research analysts anticipate that Carpenter Technology Co. will post 2.32 EPS for the current year.
A number of research firms have commented on CRS. Zacks Investment Research cut shares of Carpenter Technology from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Cowen restated a “hold” rating and issued a $53.00 price target on shares of Carpenter Technology in a report on Sunday, December 10th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $54.67.
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Carpenter Technology Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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