Huber Capital Management Lowers stake in Carpenter Technology Corporation (CRS)

Carpenter Technology Corporation (CRS) : Huber Capital Management reduced its stake in Carpenter Technology Corporation by 22.65% during the most recent quarter end. The investment management company now holds a total of 2,437,301 shares of Carpenter Technology Corporation which is valued at $74.8 Million after selling 713,689 shares in Carpenter Technology Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.Carpenter Technology Corporation makes up approximately 2.97% of Huber Capital Management’s portfolio.

Other Hedge Funds, Including , Artisan Partners Limited Partnership reduced its stake in CRS by selling 19,035 shares or 15.0% in the most recent quarter. The Hedge Fund company now holds 107,875 shares of CRS which is valued at $3.3 Million. Carpenter Technology Corporation makes up approx 0.01% of Artisan Partners Limited Partnership’s portfolio. Archford Capital Strategies sold out all of its stake in CRS during the most recent quarter. The investment firm sold 5 shares of CRS which is valued $154.Swiss National Bank boosted its stake in CRS in the latest quarter, The investment management firm added 14,900 additional shares and now holds a total of 80,700 shares of Carpenter Technology Corporation which is valued at $2.7 Million. American Century Companies Inc added CRS to its portfolio by purchasing 475,576 company shares during the most recent quarter which is valued at $15.9 Million. Carpenter Technology Corporation makes up approx 0.02% of American Century Companies Inc’s portfolio.

Carpenter Technology Corporation opened for trading at $30.2 and hit $30.34 on the upside on Friday, eventually ending the session at $30.04, with a gain of 0.33% or 0.1 points. The heightened volatility saw the trading volume jump to 3,43,984 shares. Company has a market cap of $1,400 M.

On the company’s financial health, Carpenter Technology Corporation reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.33. The company had revenue of $456.30 million for the quarter, compared to analysts expectations of $470.75 million. The company’s revenue was down -20.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Carpenter Technology Corporation is engaged in the manufacture fabrication and distribution of specialty metals. It develops manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense energy transportation medical and industrial and consumer industries. The Company operates in two segments: Specialty Alloys Operations (SAO) comprises company’s alloy and stainless steel manufacturing operations and Performance Engineered Products (PEP) comprises company’s differentiated operations which include Dynamet titanium business Carpenter Powder Products business Amega West business Specialty Steel Supply business and Latrobe and Mexico distribution businesses. Its product line includes Special alloys Stainless steels Titanium products Powder metals and Alloy and tool steel.

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