Carpenter Technology Co. (NYSE:CRS) Short Interest Update

Carpenter Technology Co. (NYSE:CRS - Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,610,000 shares, a growth of 5.9% from the September 15th total of 1,520,000 shares. Based on an average daily trading volume, of 612,900 shares, the days-to-cover ratio is currently 2.6 days. Currently, 3.4% of the company's shares are short sold.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRS shares. BTIG Research boosted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Benchmark upped their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a "buy" rating and a $144.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $139.60.

Institutional Investors Weigh In On Carpenter Technology

Several institutional investors have recently bought and sold shares of CRS. American International Group Inc. raised its holdings in shares of Carpenter Technology by 0.7% in the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company's stock valued at $1,887,000 after purchasing an additional 188 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Carpenter Technology by 82.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company's stock worth $68,833,000 after buying an additional 438,781 shares in the last quarter. Orser Capital Management LLC boosted its stake in shares of Carpenter Technology by 10.8% during the 1st quarter. Orser Capital Management LLC now owns 31,930 shares of the basic materials company's stock worth $2,280,000 after buying an additional 3,110 shares during the last quarter. Westend Capital Management LLC bought a new position in shares of Carpenter Technology in the 1st quarter valued at about $36,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Carpenter Technology by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company's stock valued at $825,000 after acquiring an additional 215 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 0.1 %

NYSE CRS traded down $0.16 during trading hours on Thursday, reaching $159.55. 356,176 shares of the company's stock were exchanged, compared to its average volume of 583,621. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. Carpenter Technology has a one year low of $58.87 and a one year high of $166.51. The company's 50-day moving average is $148.54 and its two-hundred day moving average is $119.81. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 60.67, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.51 by $0.31. The business had revenue of $798.70 million for the quarter, compared to analysts' expectations of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, analysts forecast that Carpenter Technology will post 6.63 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Carpenter Technology's payout ratio is presently 30.42%.

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.

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