Carpenter Technology Co. (NYSE:CRS) Given Consensus Rating of “Moderate Buy” by Brokerages

Carpenter Technology Co. (NYSE:CRS) has earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $155.50.

CRS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th.

Carpenter Technology Price Performance

CRS stock opened at $187.93 on Wednesday. Carpenter Technology has a 1 year low of $60.65 and a 1 year high of $213.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The firm has a market capitalization of $9.39 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. The business has a 50 day simple moving average of $187.40 and a 200-day simple moving average of $166.72.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Equities research analysts anticipate that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

Institutional Investors Weigh In On Carpenter Technology

A number of institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Carpenter Technology by 428.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after purchasing an additional 479,985 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Carpenter Technology by 1,538.1% in the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after purchasing an additional 200,364 shares during the period. Forest Avenue Capital Management LP acquired a new position in shares of Carpenter Technology in the third quarter valued at approximately $25,262,000. Finally, WCM Investment Management LLC purchased a new stake in Carpenter Technology during the 3rd quarter worth approximately $18,868,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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.