BNP Paribas Financial Markets Purchases 22,230 Shares of Carpenter Technology Co. (NYSE:CRS)

BNP Paribas Financial Markets boosted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 65.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,154 shares of the basic materials company's stock after purchasing an additional 22,230 shares during the period. BNP Paribas Financial Markets owned 0.11% of Carpenter Technology worth $9,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRS. Stratos Wealth Partners LTD. increased its stake in shares of Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock worth $410,000 after purchasing an additional 63 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock valued at $114,000 after purchasing an additional 71 shares during the period. CIBC Asset Management Inc grew its holdings in Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock valued at $258,000 after buying an additional 78 shares during the last quarter. Fifth Third Bancorp increased its position in Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after buying an additional 109 shares during the period. Finally, Wesbanco Bank Inc. increased its position in Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock worth $1,663,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 92.03% of the company's stock.

Insider Activity at Carpenter Technology

In related news, Director I Martin Inglis sold 3,433 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $197.66, for a total value of $678,566.78. Following the sale, the director now owns 6,732 shares of the company's stock, valued at $1,330,647.12. The trade was a 33.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRS has been the subject of several research reports. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $168.00.

Carpenter Technology Stock Performance

Shares of NYSE:CRS traded up $1.00 during trading on Thursday, hitting $231.00. 739,506 shares of the stock were exchanged, compared to its average volume of 754,687. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 1-year low of $95.17 and a 1-year high of $233.74. The company's fifty day simple moving average is $185.97 and its 200-day simple moving average is $186.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.14. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 earnings per share. Sell-side analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology announced that its Board of Directors has initiated a share repurchase program on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to buy up to 4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.35%. Carpenter Technology's dividend payout ratio (DPR) is currently 11.33%.

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.