Carpenter Technology Co. (NYSE:CRS) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $55.00.
Several brokerages have commented on CRS. Cowen restated a “hold” rating and set a $53.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 26th. ValuEngine upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Deutsche Bank lifted their price objective on shares of Carpenter Technology from $47.00 to $49.00 and gave the company a “hold” rating in a research note on Wednesday, April 11th. Finally, Zacks Investment Research upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a research note on Monday, April 16th.
Shares of Carpenter Technology opened at $56.16 on Monday, according to Marketbeat. The company has a quick ratio of 1.14, a current ratio of 2.97 and a debt-to-equity ratio of 0.40. Carpenter Technology has a 12 month low of $35.89 and a 12 month high of $61.49. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 52.00 and a beta of 2.02.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, April 26th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Carpenter Technology had a net margin of 8.36% and a return on equity of 8.23%. The business had revenue of $572.20 million during the quarter, compared to analysts’ expectations of $518.98 million. During the same period in the previous year, the business posted $0.44 EPS. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. equities research analysts forecast that Carpenter Technology will post 2.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Tuesday, May 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, April 30th. Carpenter Technology’s dividend payout ratio is currently 66.67%.
In related news, Director I Martin Inglis sold 2,358 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $53.36, for a total value of $125,822.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Damon J. Audia sold 10,215 shares of the business’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $58.86, for a total transaction of $601,254.90. Following the completion of the transaction, the chief financial officer now owns 33,121 shares of the company’s stock, valued at $1,949,502.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,419 shares of company stock valued at $3,556,619. Company insiders own 4.51% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Carpenter Technology by 1.3% in the 1st quarter. BlackRock Inc. now owns 5,017,316 shares of the basic materials company’s stock valued at $221,364,000 after purchasing an additional 66,128 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Carpenter Technology by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,958,359 shares of the basic materials company’s stock valued at $174,643,000 after purchasing an additional 20,514 shares during the period. Franklin Resources Inc. acquired a new position in shares of Carpenter Technology in the 1st quarter valued at $46,984,000. Northern Trust Corp lifted its stake in shares of Carpenter Technology by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,060,838 shares of the basic materials company’s stock valued at $46,804,000 after purchasing an additional 7,840 shares during the period. Finally, Kennedy Capital Management Inc. raised its position in Carpenter Technology by 466.4% during the fourth quarter. Kennedy Capital Management Inc. now owns 490,698 shares of the basic materials company’s stock worth $25,021,000 after acquiring an additional 404,070 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through 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.
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