BNP Paribas Arbitrage SA lifted its stake in shares of Carpenter Technology Corporation (NYSE:CRS) by 60.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,200 shares of the basic materials company’s stock after acquiring an additional 9,875 shares during the quarter. BNP Paribas Arbitrage SA owned 0.06% of Carpenter Technology Corporation worth $981,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Huntington National Bank increased its holdings in Carpenter Technology Corporation by 2,595.0% in the second quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock valued at $101,000 after buying an additional 2,595 shares during the last quarter. Elkfork Partners LLC increased its holdings in Carpenter Technology Corporation by 3.3% in the first quarter. Elkfork Partners LLC now owns 3,196 shares of the basic materials company’s stock valued at $119,000 after buying an additional 102 shares during the last quarter. Dubuque Bank & Trust Co. increased its holdings in Carpenter Technology Corporation by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock valued at $138,000 after buying an additional 107 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Carpenter Technology Corporation by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock valued at $140,000 after buying an additional 556 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Carpenter Technology Corporation by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after acquiring an additional 92 shares in the last quarter. 92.81% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently weighed in on the stock. Longbow Research increased their target price on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Cowen and Company restated a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a research report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Carpenter Technology Corporation currently has a consensus rating of “Buy” and a consensus target price of $43.50.
Carpenter Technology Corporation (NYSE:CRS) opened at 44.74 on Friday. The stock has a market capitalization of $2.09 billion, a PE ratio of 45.19 and a beta of 2.09. The firm has a 50-day moving average of $39.68 and a 200-day moving average of $37.84. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.34.
Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The company had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. During the same period last year, the company earned $0.35 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Carpenter Technology Corporation will post $2.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.61%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.
In other news, Director Steven E. Karol sold 3,877 shares of Carpenter Technology Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $40.18, for a total value of $155,777.86. Following the sale, the director now directly owns 230,418 shares in the company, valued at $9,258,195.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director I Martin Inglis sold 8,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $318,160.00. Following the transaction, the director now owns 11,200 shares in the company, valued at $445,424. The disclosure for this sale can be found here. Insiders sold 26,522 shares of company stock worth $1,065,580 over the last quarter. 3.60% of the stock is owned by corporate insiders.
Carpenter Technology Corporation Company Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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