Carpenter Technology (NYSE:CRS) Price Target Raised to $235.00 at JPMorgan Chase & Co.

Carpenter Technology (NYSE:CRS) had its price objective lifted by JPMorgan Chase & Co. from $220.00 to $235.00 in a report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

Separately, Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.50.

Carpenter Technology Trading Down 5.4 %

Shares of NYSE CRS opened at $199.28 on Monday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $186.51 and its two-hundred day moving average price is $161.91. Carpenter Technology has a 52-week low of $58.87 and a 52-week high of $213.65. The stock has a market capitalization of $9.93 billion, a P/E ratio of 44.38, a PEG ratio of 0.98 and a beta of 1.55.

Carpenter Technology Dividend Announcement

The company also recently disclosed 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. 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 0.40%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRS. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology in the second quarter worth $33,000. UMB Bank n.a. grew its position in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after buying an additional 191 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter worth about $64,000. Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology in the 3rd quarter worth approximately $65,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology in the third quarter valued at approximately $80,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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.