Moore Capital Management LP Buys 69,976 Shares of Carpenter Technology Corporation $CRS

Moore Capital Management LP lifted its stake in Carpenter Technology Corporation (NYSE:CRS) by 250.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,923 shares of the basic materials company’s stock after purchasing an additional 69,976 shares during the period. Moore Capital Management LP owned 0.20% of Carpenter Technology worth $24,044,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology during the second quarter valued at about $28,000. Root Financial Partners LLC purchased a new stake in Carpenter Technology in the third quarter worth about $41,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Carpenter Technology by 54.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after buying an additional 60 shares during the period. Headlands Technologies LLC bought a new stake in Carpenter Technology during the 2nd quarter valued at approximately $43,000. Finally, Rakuten Securities Inc. bought a new stake in Carpenter Technology during the 2nd quarter valued at approximately $45,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 3.6%

CRS stock opened at $374.23 on Tuesday. The business has a 50 day moving average of $360.61 and a 200 day moving average of $313.29. The firm has a market cap of $18.64 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Carpenter Technology Corporation has a twelve month low of $138.61 and a twelve month high of $412.31. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The business had revenue of $728.00 million for the quarter, compared to the consensus estimate of $733.76 million. During the same period in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts forecast that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were paid a $0.20 dividend. The ex-dividend date was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s payout ratio is presently 9.29%.

Insider Transactions at Carpenter Technology

In related news, SVP James D. Dee sold 15,800 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the sale, the senior vice president directly owned 73,739 shares of the company’s stock, valued at approximately $28,889,465.42. This represents a 17.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the sale, the director directly owned 225,381 shares in the company, valued at $85,897,206.72. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 22,300 shares of company stock worth $8,664,044. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRS. BTIG Research increased their target price on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Susquehanna assumed coverage on Carpenter Technology in a report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus price target of $385.50.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.