Moody National Bank Trust Division Purchases 1,950 Shares of Carpenter Technology Corporation $CRS

Moody National Bank Trust Division raised its position in Carpenter Technology Corporation (NYSE:CRS) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,795 shares of the basic materials company’s stock after purchasing an additional 1,950 shares during the quarter. Moody National Bank Trust Division’s holdings in Carpenter Technology were worth $4,658,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Woodline Partners LP bought a new position in Carpenter Technology in the 1st quarter valued at approximately $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Carpenter Technology by 1.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after acquiring an additional 1,701 shares during the period. Focus Partners Wealth raised its stake in shares of Carpenter Technology by 7.3% during the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 314 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Carpenter Technology by 29.8% during the second quarter. Handelsbanken Fonder AB now owns 12,200 shares of the basic materials company’s stock worth $3,372,000 after purchasing an additional 2,800 shares during the period. Finally, Swiss National Bank grew its stake in shares of Carpenter Technology by 3.9% in the second quarter. Swiss National Bank now owns 95,400 shares of the basic materials company’s stock worth $26,367,000 after purchasing an additional 3,600 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 6.7%

Carpenter Technology stock opened at $398.31 on Wednesday. The firm has a 50 day moving average price of $366.82 and a 200-day moving average price of $319.16. 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 Corporation has a twelve month low of $138.61 and a twelve month high of $412.31. The company has a market capitalization of $19.84 billion, a P/E ratio of 46.26, a P/E/G ratio of 1.46 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The company had revenue of $728.00 million during the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. Carpenter Technology’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. As a group, equities analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Steven E. Karol sold 3,500 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the transaction, the director owned 225,381 shares of the company’s stock, valued at $85,897,206.72. This represents a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James D. Dee sold 15,800 shares of the firm’s stock in a transaction on 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 owned 73,739 shares in the company, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,300 shares of company stock valued at $8,664,044. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Company 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.