Carpenter Technology Corporation (NYSE:CRS) Receives $373.43 Consensus PT from Analysts

Carpenter Technology Corporation (NYSE:CRS) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $385.50.

Several research analysts have recently weighed in on CRS shares. BTIG Research upped their price objective on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Wall Street Zen raised shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st.

Insiders Place Their Bets

In related news, COO Brian J. Malloy sold 43,688 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the transaction, the chief operating officer directly owned 78,875 shares in the company, valued at approximately $24,013,493.75. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the transaction, the director owned 225,381 shares in the company, valued at $85,897,206.72. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,758 shares of company stock valued at $31,665,177 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Advisory Services Inc. grew its position in shares of Carpenter Technology by 3.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 32 shares during the last quarter. Abel Hall LLC increased its stake in Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC increased its stake in shares of Carpenter Technology by 2.4% in the 4th quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 33 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Carpenter Technology by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after acquiring an additional 34 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of Carpenter Technology by 17.9% during the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Up 2.7%

Shares of CRS stock opened at $411.90 on Monday. Carpenter Technology has a 12-month low of $138.61 and a 12-month high of $412.31. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $351.01 and a 200-day moving average of $304.64. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 1.57 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $728.00 million during the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 EPS. As a group, equities research analysts predict that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.29%.

About Carpenter Technology

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.