Carpenter Technology Co. (NYSE:CRS) Receives Average Rating of “Moderate Buy” from Brokerages

Carpenter Technology Co. (NYSE:CRS) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $155.50.

A number of research analysts have recently commented on CRS shares. Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, January 27th.

Hedge Funds Weigh In On Carpenter Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology during the 4th quarter worth approximately $25,000. UMB Bank n.a. lifted its holdings in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 191 shares during the period. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at $64,000. Banque Cantonale Vaudoise bought a new stake in shares of Carpenter Technology in the 3rd quarter worth about $65,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology during the 3rd quarter worth about $80,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $192.19 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology has a one year low of $58.87 and a one year high of $213.65. The business’s 50-day moving average price is $187.64 and its two-hundred day moving average price is $165.29. The company has a market capitalization of $9.60 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 0.92 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Analysts anticipate that Carpenter Technology will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Carpenter Technology Company 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.