Caxton Associates LLP Sells 5,598 Shares of Carpenter Technology Corporation $CRS

Caxton Associates LLP reduced its stake in Carpenter Technology Corporation (NYSE:CRS) by 52.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,153 shares of the basic materials company’s stock after selling 5,598 shares during the period. Caxton Associates LLP’s holdings in Carpenter Technology were worth $1,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRS. Rise Advisors LLC bought a new stake in shares of Carpenter Technology in the 1st quarter worth $31,000. Headlands Technologies LLC purchased a new stake in Carpenter Technology during the second quarter valued at approximately $43,000. Rakuten Securities Inc. bought a new position in Carpenter Technology in the 2nd quarter worth $45,000. MAI Capital Management lifted its position in shares of Carpenter Technology by 118.8% during the 2nd quarter. MAI Capital Management now owns 221 shares of the basic materials company’s stock valued at $61,000 after buying an additional 120 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Carpenter Technology during the second quarter valued at approximately $71,000. Institutional investors own 92.03% of the company’s stock.

Insider Activity

In related news, COO Brian J. Malloy sold 43,688 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $304.45, for a total value of $13,300,811.60. Following the sale, the chief operating officer owned 78,875 shares in the company, valued at $24,013,493.75. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the sale, the vice president directly owned 9,594 shares in the company, valued at $3,082,072.50. This trade represents a 28.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 79,358 shares of company stock valued at $24,254,008. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRS shares. Cowen restated a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. BTIG Research lifted their price objective on shares of Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. TD Cowen boosted their target price on Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Zacks Research downgraded shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research note on Thursday, November 13th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $371.14.

Carpenter Technology Stock Up 0.6%

Shares of Carpenter Technology stock opened at $323.72 on Tuesday. The firm’s 50 day moving average price is $299.62 and its 200-day moving average price is $270.75. The company has a market cap of $16.13 billion, a P/E ratio of 39.57, a PEG ratio of 1.34 and a beta of 1.31. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. Carpenter Technology Corporation has a 52-week low of $138.61 and a 52-week high of $342.11.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.30. The firm had revenue of $733.70 million during the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. On average, sell-side analysts predict that Carpenter Technology Corporation will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Tuesday, October 21st were paid a $0.20 dividend. The ex-dividend date was Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 9.78%.

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.