Carpenter Technology Co. (NYSE:CRS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Carpenter Technology Co. (NYSE:CRS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $167.17.

CRS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRS. FMR LLC grew its stake in shares of Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock worth $754,295,000 after purchasing an additional 979,313 shares during the period. Invesco Ltd. grew its position in Carpenter Technology by 30.3% during the fourth quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock valued at $260,884,000 after buying an additional 357,417 shares during the period. SurgoCap Partners LP increased its holdings in Carpenter Technology by 117.6% in the fourth quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock valued at $244,734,000 after buying an additional 779,357 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Carpenter Technology by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock worth $193,279,000 after acquiring an additional 38,411 shares during the period. Finally, Third Point LLC boosted its stake in shares of Carpenter Technology by 31.8% during the 4th quarter. Third Point LLC now owns 870,000 shares of the basic materials company's stock worth $147,648,000 after acquiring an additional 210,000 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

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Carpenter Technology Stock Down 2.4 %

NYSE CRS traded down $4.49 during trading on Thursday, hitting $181.32. The company's stock had a trading volume of 464,566 shares, compared to its average volume of 719,720. The company has a market cap of $9.06 billion, a PE ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business's 50 day simple moving average is $194.01 and its 200-day simple moving average is $178.72. Carpenter Technology has a fifty-two week low of $70.20 and a fifty-two week high of $213.66.

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

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid 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 dividend yield of 0.44%. Carpenter Technology's payout ratio is 15.09%.

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.