Carpenter Technology Corp. (CRS) Declares Quarterly Dividend of C$0.18
Carpenter Technology Corp. (NYSE:CRS) announced a quarterly dividend on Wednesday, October 12th. Shareholders of record on Tuesday, October 25th will be given a dividend of 0.18 per share on Thursday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, October 21st.
Shares of Carpenter Technology Corp. (NYSE:CRS) opened at 39.79 on Wednesday. The firm’s 50-day moving average is $38.28 and its 200 day moving average is $35.75. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 173.00 and a beta of 2.01. Carpenter Technology Corp. has a 52-week low of $23.99 and a 52-week high of $42.27.
Carpenter Technology Corp. (NYSE:CRS) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. The firm earned $457.70 million during the quarter, compared to analysts’ expectations of $454 million. During the same period in the previous year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. Equities analysts expect that Carpenter Technology Corp. will post $1.56 EPS for the current year.
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A number of equities analysts recently commented on CRS shares. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a research note on Monday, July 18th. Seaport Global Securities started coverage on shares of Carpenter Technology Corp. in a research note on Friday, September 9th. They set a “neutral” rating and a $38.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $42.00 price target on shares of Carpenter Technology Corp. in a research note on Friday, July 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of C$38.20.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 12,613 shares of the company’s stock, valued at approximately C$489,132.14. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.60% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its stake in Carpenter Technology Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 2,337,750 shares of the company’s stock valued at $76,982,000 after buying an additional 83,893 shares during the period. State Street Corp boosted its stake in Carpenter Technology Corp. by 7.9% in the second quarter. State Street Corp now owns 2,322,416 shares of the company’s stock valued at $76,478,000 after buying an additional 170,130 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Carpenter Technology Corp. by 3.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 487,475 shares of the company’s stock valued at $16,052,000 after buying an additional 14,975 shares during the period. BlackRock Investment Management LLC boosted its stake in Carpenter Technology Corp. by 8.5% in the second quarter. BlackRock Investment Management LLC now owns 370,052 shares of the company’s stock valued at $12,186,000 after buying an additional 28,949 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Carpenter Technology Corp. by 16.2% in the second quarter. Canada Pension Plan Investment Board now owns 346,800 shares of the company’s stock valued at $11,420,000 after buying an additional 48,400 shares during the period. 95.90% of the stock is owned by institutional investors.
About Carpenter Technology Corp.
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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