Shares of Carpenter Technology Co. (NYSE:CRS) have received a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation. Carpenter Technology’s rating score has declined by 20% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a 1 year consensus target price of $36.50 for the company and are predicting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also given Carpenter Technology an industry rank of 112 out of 265 based on the ratings given to its competitors.

A number of brokerages have issued reports on CRS. Zacks Investment Research raised shares of Carpenter Technology from a “strong sell” rating to a “hold” rating in a report on Monday, July 18th. Seaport Global Securities began coverage on shares of Carpenter Technology in a report on Friday, September 9th. They issued a “neutral” rating and a $38.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $42.00 target price on shares of Carpenter Technology in a report on Friday, July 8th.

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In other Carpenter Technology news, Director Gregory A. Pratt sold 10,358 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of C$38.78, for a total value of C$401,683.24. Following the sale, the director now owns 12,613 shares in the company, valued at C$489,132.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of Carpenter Technology by 215.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,759 shares of the company’s stock valued at $124,000 after buying an additional 2,569 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Carpenter Technology by 15.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,829 shares of the company’s stock valued at $159,000 after buying an additional 632 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Carpenter Technology during the second quarter valued at approximately $176,000. Advisor Group Inc. purchased a new stake in shares of Carpenter Technology during the second quarter valued at approximately $197,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Carpenter Technology by 8.6% in the second quarter. Teacher Retirement System of Texas now owns 6,516 shares of the company’s stock valued at $215,000 after buying an additional 515 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Shares of Carpenter Technology (NYSE:CRS) traded up 2.21% during midday trading on Wednesday, hitting $37.92. The stock had a trading volume of 216,863 shares. The firm has a 50 day moving average of $37.01 and a 200-day moving average of $35.01. The company has a market cap of $1.77 billion, a P/E ratio of 164.87 and a beta of 1.97. Carpenter Technology has a one year low of $23.99 and a one year high of $40.46.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Carpenter Technology had a net margin of 0.63% and a return on equity of 4.66%. The business had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $454 million. During the same quarter last year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 18.0% compared to the same quarter last year. On average, analysts forecast that Carpenter Technology will post $1.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.72 annualized dividend and a dividend yield of 1.94%. Carpenter Technology’s payout ratio is currently 327.27%.

Carpenter Technology Company Profile

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

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