Carpenter Technology (NYSE:CRS) Reaches New 1-Year High – Should You Buy?

Carpenter Technology Co. (NYSE:CRS)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $182.52 and last traded at $181.96, with a volume of 192569 shares trading hands. The stock had previously closed at $175.50.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of analyst reports. BTIG Research increased their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Trading Up 2.1 %

The stock’s 50 day moving average is $158.32 and its 200-day moving average is $132.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The company has a market capitalization of $8.93 billion, a P/E ratio of 39.09, a P/E/G ratio of 0.88 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Kimelman & Baird LLC purchased a new stake in Carpenter Technology in the second quarter worth about $33,000. National Bank of Canada FI purchased a new position in Carpenter Technology during the second quarter valued at $49,000. EverSource Wealth Advisors LLC boosted its holdings in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares in the last quarter. Covestor Ltd boosted its holdings in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 685 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Carpenter Technology in the third quarter worth $64,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Company Profile

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.