BNP Paribas Arbitrage SA grew its position in shares of Carpenter Technology Co. (NYSE:CRS) by 436.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 12,100 shares of the basic materials company’s stock after purchasing an additional 9,845 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Carpenter Technology were worth $555,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRS. Flagship Harbor Advisors LLC acquired a new position in shares of Carpenter Technology during the fourth quarter valued at $25,000. Investors Research Corp acquired a new position in shares of Carpenter Technology during the first quarter valued at $133,000. Dupont Capital Management Corp acquired a new position in shares of Carpenter Technology during the fourth quarter valued at $167,000. Quantamental Technologies LLC acquired a new position in shares of Carpenter Technology during the fourth quarter valued at $178,000. Finally, Park National Corp OH acquired a new position in shares of Carpenter Technology during the first quarter valued at $201,000. 94.23% of the stock is owned by institutional investors.

Shares of NYSE CRS opened at $48.01 on Thursday. Carpenter Technology Co. has a fifty-two week low of $32.77 and a fifty-two week high of $61.49. The company has a current ratio of 2.53, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.22 billion, a P/E ratio of 19.20 and a beta of 2.40.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. Carpenter Technology had a net margin of 6.83% and a return on equity of 9.93%. The business had revenue of $609.90 million for the quarter, compared to analysts’ expectations of $585.08 million. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, analysts predict that Carpenter Technology Co. will post 3.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, April 29th. Carpenter Technology’s dividend payout ratio is currently 32.00%.

CRS has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. Zacks Investment Research cut shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Finally, Cowen restated a “buy” rating and set a $53.00 price objective on shares of Carpenter Technology in a research note on Thursday, January 31st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.50.

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Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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