Riposte Capital LLC Invests $9.85 Million in Carpenter Technology Corporation $CRS

Riposte Capital LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) during the 1st quarter, Holdings Channel.com reports. The fund purchased 25,000 shares of the basic materials company’s stock, valued at approximately $9,854,000. Carpenter Technology makes up 2.5% of Riposte Capital LLC’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors also recently bought and sold shares of CRS. Meeder Advisory Services Inc. raised its stake in shares of Carpenter Technology by 3.7% in the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 32 shares during the period. Abel Hall LLC raised its position in Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 32 shares during the period. Brown Miller Wealth Management LLC lifted its stake in shares of Carpenter Technology by 2.4% during the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock worth $444,000 after purchasing an additional 33 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Carpenter Technology by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after buying an additional 34 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in shares of Carpenter Technology by 81.8% in the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRS has been the subject of a number of analyst reports. BTIG Research upped their price target on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Susquehanna upped their target price on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their price objective 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. Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $556.75.

Insider Activity

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the transaction, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anastasios John Hart sold 750 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director owned 750 shares in the company, valued at $317,895. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Stock Performance

Shares of CRS opened at $559.97 on Wednesday. The firm has a fifty day moving average of $547.77 and a 200-day moving average of $443.63. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 58.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $625.98.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. As a group, equities analysts anticipate that Carpenter Technology Corporation will post 10.58 earnings per share for the current year.

About Carpenter Technology

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.