Moore Capital Management LP Sells 51,440 Shares of Carpenter Technology Corporation $CRS

Moore Capital Management LP cut its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 52.5% during the 4th quarter, HoldingsChannel reports. The firm owned 46,483 shares of the basic materials company’s stock after selling 51,440 shares during the period. Moore Capital Management LP’s holdings in Carpenter Technology were worth $14,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRS. Woodline Partners LP bought a new stake in shares of Carpenter Technology during the 1st quarter valued at approximately $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Carpenter Technology by 1.7% during 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 purchasing an additional 1,701 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Carpenter Technology by 7.3% during the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 314 shares during the last quarter. Quantbot Technologies LP bought a new stake in Carpenter Technology during the 2nd quarter worth approximately $80,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Carpenter Technology during the 2nd quarter worth approximately $533,000. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Up 2.7%

CRS opened at $576.70 on Thursday. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $585.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The firm has a market capitalization of $28.66 billion, a price-to-earnings ratio of 60.71, a PEG ratio of 1.93 and a beta of 1.25. The company’s 50 day moving average price is $456.67 and its two-hundred day moving average price is $389.60.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company had revenue of $655.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same period in the prior year, the firm posted $1.88 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Carpenter Technology Corporation will post 10.56 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio is currently 8.42%.

Insiders Place Their Bets

In other news, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the sale, the director directly owned 750 shares of the company’s stock, valued at approximately $317,895. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the sale, the vice president directly owned 18,344 shares in the company, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company boosted their target price on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a report on Thursday, April 30th. Finally, Susquehanna boosted their target price on shares of Carpenter Technology from $470.00 to $495.00 and gave the stock a “positive” rating in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $458.63.

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.