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

Shares of Carpenter Technology Co. (NYSE:CRS) have received an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $167.17.

Several research firms recently commented on CRS. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st.

Hedge Funds Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of CRS. Tidal Investments LLC boosted its stake in Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after buying an additional 10,094 shares in the last quarter. Forest Avenue Capital Management LP purchased a new position in shares of Carpenter Technology in the third quarter worth approximately $25,262,000. Manuka Financial LLC acquired a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $368,000. Park Avenue Securities LLC purchased a new stake in shares of Carpenter Technology in the 4th quarter valued at approximately $419,000. Finally, Avala Global LP boosted its stake in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 3.1 %

Carpenter Technology stock opened at $189.40 on Thursday. The firm has a market capitalization of $9.46 billion, a P/E ratio of 35.73, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a 50-day simple moving average of $194.81 and a 200-day simple moving average of $178.36. Carpenter Technology has a one year low of $68.77 and a one year high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, equities 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology’s dividend payout ratio (DPR) is 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.