Carpenter Technology Co. (NYSE:CRS) Announces $0.20 Quarterly Dividend

Carpenter Technology Co. (NYSE:CRS) declared a quarterly dividend on Thursday, April 10th, RTT News reports. Investors of record on Tuesday, April 22nd will be given a dividend of 0.20 per share by the basic materials company on Thursday, June 5th. This represents a $0.80 annualized dividend and a yield of 0.48%.

Carpenter Technology has a dividend payout ratio of 9.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carpenter Technology to earn $8.08 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.9%.

Carpenter Technology Trading Down 4.3 %

NYSE:CRS opened at $167.52 on Friday. Carpenter Technology has a 12 month low of $74.21 and a 12 month high of $213.66. The business’s 50-day moving average is $185.92 and its two-hundred day moving average is $180.28. 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 $8.37 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRS shares. Northcoast Research upgraded Carpenter Technology from a “sell” rating to a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

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.