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

Shares of Carpenter Technology Co. (NYSE:CRS) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $167.17.

CRS has been the subject of several research analyst reports. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRS. FMR LLC grew its holdings in Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company’s stock valued at $754,295,000 after purchasing an additional 979,313 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Carpenter Technology by 30.3% in the fourth quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company’s stock worth $260,884,000 after buying an additional 357,417 shares during the period. SurgoCap Partners LP lifted its stake in shares of Carpenter Technology by 117.6% during the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company’s stock worth $244,734,000 after acquiring an additional 779,357 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Carpenter Technology by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company’s stock valued at $193,279,000 after acquiring an additional 38,411 shares during the period. Finally, Third Point LLC grew its position in Carpenter Technology by 31.8% in the 4th quarter. Third Point LLC now owns 870,000 shares of the basic materials company’s stock valued at $147,648,000 after acquiring an additional 210,000 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

CRS stock opened at $187.20 on Thursday. The company has a market capitalization of $9.35 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. The company’s fifty day moving average price is $192.52 and its 200-day moving average price is $179.96. Carpenter Technology has a one year low of $70.73 and a one year high of $213.66. 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 (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS 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%. On average, equities analysts anticipate that Carpenter Technology will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

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.