Carpenter Technology Co. (CRS) Receives Consensus Rating of “Hold” from Brokerages

Carpenter Technology Co. (NYSE:CRS) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $49.33.

A number of equities research analysts have issued reports on CRS shares. Cowen reissued a “hold” rating and set a $37.00 target price on shares of Carpenter Technology in a report on Thursday, October 19th. KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Finally, Zacks Investment Research cut shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th.

Shares of Carpenter Technology (CRS) opened at $48.69 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. Carpenter Technology has a 1-year low of $34.24 and a 1-year high of $54.61. The stock has a market cap of $2,229.94, a price-to-earnings ratio of 14.36 and a beta of 2.05.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Carpenter Technology had a net margin of 18.88% and a return on equity of 28.49%. The business had revenue of $487.80 million for the quarter, compared to analysts’ expectations of $482.20 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. equities research analysts forecast that Carpenter Technology will post 2.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. Carpenter Technology’s dividend payout ratio (DPR) is currently 21.24%.

In other news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.51% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRS. Huntington National Bank grew its position in shares of Carpenter Technology by 1,902.0% during the 4th quarter. Huntington National Bank now owns 2,002 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 1,902 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Carpenter Technology by 90.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 1,529 shares in the last quarter. Turner Investments LLC purchased a new position in shares of Carpenter Technology during the 3rd quarter valued at $192,000. Public Employees Retirement System of Ohio grew its position in shares of Carpenter Technology by 7.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 370 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Carpenter Technology during the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 94.64% of the company’s stock.

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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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