Northcoast Research upgraded shares of Carpenter Technology (NYSE:CRS - Free Report) from a sell rating to a neutral rating in a research report report published on Wednesday, MarketBeat.com reports.
A number of other research firms have also issued reports on CRS. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.17.
Check Out Our Latest Stock Analysis on CRS
Carpenter Technology Trading Up 1.8 %
CRS traded up $2.96 during trading on Wednesday, reaching $170.72. The company had a trading volume of 541,256 shares, compared to its average volume of 735,028. 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 has a 12-month low of $74.21 and a 12-month high of $213.66. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 0.93 and a beta of 1.28. The firm's 50-day simple moving average is $185.49 and its 200 day simple moving average is $180.34.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Equities research analysts anticipate that Carpenter Technology will post 6.83 earnings per share for the current year.
Carpenter Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Carpenter Technology's payout ratio is 15.09%.
Institutional Investors Weigh In On Carpenter Technology
Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Carpenter Technology in the 4th quarter valued at approximately $25,000. CIBC Private Wealth Group LLC grew its position in Carpenter Technology by 109.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after acquiring an additional 127 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Carpenter Technology during the 4th quarter worth $44,000. UMB Bank n.a. increased its stake in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after purchasing an additional 191 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Carpenter Technology by 27.3% in the 1st quarter. Versant Capital Management Inc now owns 359 shares of the basic materials company's stock valued at $65,000 after purchasing an additional 77 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Company Profile
(
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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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