HRT Financial LP Buys Shares of 179,570 Carpenter Technology Corporation $CRS

HRT Financial LP purchased a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 179,570 shares of the basic materials company’s stock, valued at approximately $49,629,000. HRT Financial LP owned 0.36% of Carpenter Technology at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CRS. Rise Advisors LLC purchased a new stake in Carpenter Technology during the 1st quarter worth about $31,000. MAI Capital Management lifted its holdings in shares of Carpenter Technology by 118.8% in the second quarter. MAI Capital Management now owns 221 shares of the basic materials company’s stock worth $61,000 after buying an additional 120 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Carpenter Technology in the second quarter worth about $71,000. NewEdge Advisors LLC boosted its position in shares of Carpenter Technology by 2,061.5% in the second quarter. NewEdge Advisors LLC now owns 281 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 268 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Carpenter Technology during the second quarter valued at approximately $80,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

CRS stock opened at $321.45 on Friday. The firm has a market cap of $16.01 billion, a P/E ratio of 39.30, a P/E/G ratio of 1.35 and a beta of 1.31. The firm’s fifty day moving average is $298.18 and its 200 day moving average is $269.66. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $342.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44.

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

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is 9.78%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen raised their price target on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 24th. Jones Trading started coverage on Carpenter Technology in a research note on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Carpenter Technology in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $371.14.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, COO Brian J. Malloy sold 43,688 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were 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 of the company’s stock, valued at $24,013,493.75. This trade represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Elizabeth A. Socci sold 3,900 shares of the business’s stock in a transaction dated 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 transaction, the vice president owned 9,594 shares in the company, valued at $3,082,072.50. The trade was a 28.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,358 shares of company stock worth $24,254,008 in the last 90 days. Company insiders own 2.90% of the company’s stock.

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.