Carpenter Technology Co. (NYSE:CRS) Given Average Recommendation of “Moderate Buy” by Analysts

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

CRS has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research 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 note on Monday, January 27th.

Carpenter Technology Price Performance

CRS stock opened at $184.85 on Wednesday. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 0.88 and a beta of 1.54. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology has a 12-month low of $60.65 and a 12-month high of $213.65. The company’s fifty day simple moving average is $187.16 and its 200 day simple moving average is $167.42.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, analysts expect that Carpenter Technology will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 15.09%.

Institutional Inflows and Outflows

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

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.