Banque Cantonale Vaudoise Takes $168,000 Position in Carpenter Technology Co. (NYSE:CRS)

Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,079 shares of the basic materials company’s stock, valued at approximately $168,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CRS. Victory Capital Management Inc. increased its holdings in shares of Carpenter Technology by 1,181.9% during the 4th quarter. Victory Capital Management Inc. now owns 699,497 shares of the basic materials company’s stock valued at $20,369,000 after acquiring an additional 644,931 shares during the last quarter. Norges Bank acquired a new position in shares of Carpenter Technology during the 4th quarter valued at about $18,276,000. Alliancebernstein L.P. increased its holdings in shares of Carpenter Technology by 18.2% during the 1st quarter. Alliancebernstein L.P. now owns 3,416,304 shares of the basic materials company’s stock valued at $140,581,000 after acquiring an additional 526,712 shares during the last quarter. Royce & Associates LP acquired a new stake in Carpenter Technology in the 1st quarter valued at approximately $20,145,000. Finally, BlackRock Inc. grew its holdings in Carpenter Technology by 5.2% in the 4th quarter. BlackRock Inc. now owns 7,480,745 shares of the basic materials company’s stock valued at $217,841,000 after buying an additional 370,045 shares during the last quarter. 90.50% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Carpenter Technology from a “sell” rating to a “hold” rating and set a $44.00 target price on the stock in a report on Monday, March 8th.

CRS opened at $44.24 on Friday. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -7.32 and a beta of 2.23. The firm has a 50 day simple moving average of $42.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.27 and a quick ratio of 2.28. Carpenter Technology Co. has a 12-month low of $15.90 and a 12-month high of $49.20.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, April 29th. The basic materials company reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.03. Carpenter Technology had a negative return on equity of 7.06% and a negative net margin of 19.51%. The firm had revenue of $351.90 million for the quarter, compared to analyst estimates of $368.53 million. During the same quarter last year, the firm posted $0.82 EPS. The company’s revenue was down 39.9% on a year-over-year basis. As a group, equities research analysts expect that Carpenter Technology Co. will post -2.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 3rd. Stockholders of record on Tuesday, May 4th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, May 3rd. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is presently 36.20%.

About Carpenter Technology

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. 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 drilling tools, and metal powders and parts.

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

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