Carpenter Technology Corporation (NYSE:CRS) has been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $43.40.

CRS has been the subject of a number of research reports. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, July 18th. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Cowen and Company reissued a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Finally, Longbow Research boosted their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 28th.

In other news, Director Jeffrey Wadsworth sold 4,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $40.25, for a total value of $161,000.00. Following the completion of the transaction, the director now owns 4,200 shares of the company’s stock, valued at approximately $169,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director I Martin Inglis sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $39.77, for a total value of $318,160.00. Following the completion of the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $445,424. The disclosure for this sale can be found here. In the last three months, insiders sold 26,522 shares of company stock valued at $1,065,580. Insiders own 3.60% of the company’s stock.

Several hedge funds have recently modified their holdings of CRS. BlackRock Inc. lifted its holdings in shares of Carpenter Technology Corporation by 17,365.7% in the 1st quarter. BlackRock Inc. now owns 5,071,683 shares of the basic materials company’s stock valued at $189,174,000 after buying an additional 5,042,645 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of Carpenter Technology Corporation by 41.8% in the 1st quarter. Deprince Race & Zollo Inc. now owns 898,268 shares of the basic materials company’s stock valued at $33,505,000 after purchasing an additional 264,658 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Carpenter Technology Corporation by 18.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,651,339 shares of the basic materials company’s stock valued at $61,809,000 after purchasing an additional 253,969 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carpenter Technology Corporation by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 3,909,291 shares of the basic materials company’s stock valued at $145,817,000 after purchasing an additional 223,197 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Carpenter Technology Corporation by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,926,931 shares of the basic materials company’s stock valued at $146,473,000 after purchasing an additional 206,068 shares in the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.

Shares of Carpenter Technology Corporation (NYSE CRS) opened at 41.42 on Friday. The stock has a market cap of $1.94 billion, a PE ratio of 41.84 and a beta of 2.09. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $45.34. The company’s 50-day moving average price is $39.57 and its 200-day moving average price is $37.84.

Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The company had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Carpenter Technology Corporation will post $2.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were issued a $0.18 dividend. The ex-dividend date was Friday, August 18th. This represents a $0.72 annualized dividend and a dividend yield of 1.74%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.

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Carpenter Technology Corporation 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.

Analyst Recommendations for Carpenter Technology Corporation (NYSE:CRS)

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