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 November. As of November 30th, there was short interest totalling 2,680,000 shares, a growth of 17.0% from the November 15th total of 2,290,000 shares. Based on an average trading volume of 594,200 shares, the short-interest ratio is presently 4.5 days. Currently, 5.7% of the company's stock are sold short.

Carpenter Technology Stock Performance

NYSE CRS traded up $1.48 during trading hours on Monday, reaching $175.57. 608,854 shares of the company were exchanged, compared to its average volume of 595,018. The stock has a market capitalization of $8.75 billion, a P/E ratio of 39.05, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology has a 1 year low of $58.87 and a 1 year high of $198.24. The business's 50 day simple moving average is $173.18 and its 200-day simple moving average is $144.37.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same quarter last year, the business posted $0.88 EPS. Carpenter Technology's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Carpenter Technology will post 6.74 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Carpenter Technology's dividend payout ratio is presently 17.82%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRS. Benchmark restated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $153.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRS. FMR LLC lifted its stake in shares of Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after buying an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Carpenter Technology by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock worth $175,607,000 after acquiring an additional 17,497 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Carpenter Technology by 129.5% in the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock worth $93,044,000 after acquiring an additional 479,047 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock valued at $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Finally, Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at $73,850,000. Institutional investors own 92.03% of the company's stock.

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.