Riposte Capital LLC Purchases New Shares in Carpenter Technology Corporation $CRS

Key Points

• Riposte Capital acquired 25,000 shares of Carpenter Technology worth approximately $9.85 million, making up 2.5% of its portfolio. Institutional investors collectively own 92.03% of the company.
• Analyst sentiment remains positive: Carpenter Technology has an overall “Buy” rating and a consensus price target of $556.75, with several firms recently raising their targets.
• The company reported quarterly EPS of $2.77, exceeding estimates of $2.59, while revenue rose 11.6% year over year to $655.6 million. The stock opened at $559.97, down 3.5%, with a one-year range of $228.00 to $625.98.

Riposte Capital LLC acquired a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,000 shares of the basic materials company's stock, valued at approximately $9,854,000. Carpenter Technology accounts for 2.5% of Riposte Capital LLC's investment portfolio, making the stock its 14th biggest position. Riposte Capital LLC owned about 0.05% of Carpenter Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company's stock worth $514,687,000 after acquiring an additional 192,533 shares during the period. Invesco Ltd. lifted its holdings in shares of Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company's stock worth $652,241,000 after purchasing an additional 327,302 shares during the period. Egerton Capital UK LLP lifted its holdings in shares of Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company's stock worth $488,950,000 after purchasing an additional 178,679 shares during the period. SurgoCap Partners LP grew its position in Carpenter Technology by 29.5% in the 3rd quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company's stock valued at $294,377,000 after buying an additional 272,896 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Carpenter Technology by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company's stock valued at $307,333,000 after buying an additional 78,588 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Insider Buying and Selling

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was 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 trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares of the company's stock, valued at approximately $8,096,307.84. This represents a 39.18% 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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $500.00 price objective on shares of Carpenter Technology in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Wells Fargo & Company increased their price target 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 raised Carpenter Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Finally, KeyCorp increased their price objective on Carpenter Technology from $459.00 to $644.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $556.75.

Carpenter Technology Trading Down 3.5%

Shares of Carpenter Technology stock opened at $559.97 on Wednesday. The business has a 50 day moving average price of $547.77 and a 200 day moving average price of $443.63. The company has a market capitalization of $27.82 billion, a P/E ratio of 58.94, a P/E/G ratio of 1.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $625.98.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The business had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. During the same period in the prior year, the business earned $1.88 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Carpenter Technology Corporation will post 10.58 EPS for the current fiscal year.

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.

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