Cowen reissued their hold rating on shares of Carpenter Technology (NYSE:CRS) in a research note issued to investors on Sunday morning. They currently have a $53.00 price objective on the basic materials company’s stock.
A number of other equities analysts have also recently commented on the stock. KeyCorp reaffirmed a hold rating on shares of Carpenter Technology in a report on Thursday, November 16th. Zacks Investment Research upgraded shares of Carpenter Technology from a hold rating to a buy rating and set a $56.00 price objective on the stock in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $48.17.
Shares of Carpenter Technology (NYSE CRS) traded up $1.06 during trading on Friday, hitting $51.56. 350,200 shares of the stock were exchanged, compared to its average volume of 349,682. The firm has a market cap of $2,413.86, a PE ratio of 31.06 and a beta of 2.07. Carpenter Technology has a fifty-two week low of $34.24 and a fifty-two week high of $52.00. The company has a quick ratio of 0.98, a current ratio of 2.91 and a debt-to-equity ratio of 0.45.
Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. equities analysts expect that Carpenter Technology will post 2.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Tuesday, October 24th were given a $0.18 dividend. The ex-dividend date was Monday, October 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. Carpenter Technology’s dividend payout ratio (DPR) is 44.44%.
In related news, COO Joseph E. Haniford sold 11,448 shares of Carpenter Technology stock in a transaction on Friday, December 1st. The shares were sold at an average price of $49.09, for a total value of $561,982.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CRS. Teachers Advisors LLC boosted its position in shares of Carpenter Technology by 6.2% during the 1st quarter. Teachers Advisors LLC now owns 83,504 shares of the basic materials company’s stock worth $3,115,000 after purchasing an additional 4,891 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Carpenter Technology by 7.7% during the 2nd quarter. Capstone Asset Management Co. now owns 6,029 shares of the basic materials company’s stock worth $226,000 after purchasing an additional 430 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Carpenter Technology by 3.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the basic materials company’s stock worth $457,000 after buying an additional 400 shares during the last quarter. Aperio Group LLC raised its stake in shares of Carpenter Technology by 19.9% during the 2nd quarter. Aperio Group LLC now owns 24,501 shares of the basic materials company’s stock worth $917,000 after buying an additional 4,064 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of Carpenter Technology during the 2nd quarter worth $213,000. Institutional investors own 95.97% of the company’s stock.
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Carpenter Technology Company Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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