Shares of Carpenter Technology Co. (NYSE:CRS - Get Free Report) traded up 8% during mid-day trading on Tuesday . The company traded as high as $205.00 and last traded at $203.53. 1,272,017 shares changed hands during trading, an increase of 75% from the average session volume of 728,503 shares. The stock had previously closed at $188.44.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday. Benchmark reiterated a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Carpenter Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.33.
View Our Latest Report on CRS
Carpenter Technology Trading Down 0.6 %
The company has a market cap of $10.45 billion, a P/E ratio of 39.47, a PEG ratio of 0.96 and a beta of 1.54. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $187.83 and a 200-day moving average price of $169.44.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data 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%. Analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.
Carpenter Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology's payout ratio is presently 15.09%.
Institutional Investors Weigh In On Carpenter Technology
Large investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings in Carpenter Technology by 59.0% during the 3rd quarter. CWM LLC now owns 1,464 shares of the basic materials company's stock valued at $234,000 after purchasing an additional 543 shares during the last quarter. Creative Planning lifted its holdings in Carpenter Technology by 55.0% during the 3rd quarter. Creative Planning now owns 11,558 shares of the basic materials company's stock valued at $1,844,000 after purchasing an additional 4,100 shares during the last quarter. Raymond James & Associates lifted its holdings in Carpenter Technology by 2.5% during the 3rd quarter. Raymond James & Associates now owns 120,971 shares of the basic materials company's stock valued at $19,305,000 after purchasing an additional 2,977 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Carpenter Technology by 523.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 112,049 shares of the basic materials company's stock valued at $17,881,000 after purchasing an additional 94,083 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Carpenter Technology by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company's stock valued at $846,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.
About Carpenter Technology
(
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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.
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