Carpenter Technology (NYSE:CRS) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology (NYSE:CRS) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $144.00 target price on the basic materials company’s stock.

A number of other brokerages have also recently weighed in on CRS. TD Cowen boosted their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a buy rating in a research note on Monday, June 10th. Benchmark reissued a buy rating and set a $140.00 target price on shares of Carpenter Technology in a research report on Tuesday, May 28th. Finally, Northcoast Research reaffirmed a sell rating and issued a $89.00 price target on shares of Carpenter Technology in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of Hold and a consensus target price of $124.50.

Carpenter Technology Stock Up 3.6 %

Carpenter Technology stock opened at $102.03 on Tuesday. The company has a market capitalization of $5.06 billion, a P/E ratio of 38.79 and a beta of 1.47. Carpenter Technology has a 1-year low of $51.34 and a 1-year high of $112.75. The firm’s fifty day simple moving average is $100.42 and its 200-day simple moving average is $79.22. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The business had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts forecast that Carpenter Technology will post 4.31 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd were paid a dividend of $0.20 per share. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Monday, April 22nd. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Insider Buying and Selling at Carpenter Technology

In other news, VP Elizabeth A. Socci sold 802 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the transaction, the vice president now owns 11,509 shares of the company’s stock, valued at $1,175,183.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Elizabeth A. Socci sold 802 shares of Carpenter Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $102.11, for a total transaction of $81,892.22. Following the sale, the vice president now owns 11,509 shares of the company’s stock, valued at approximately $1,175,183.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marshall D. Akins sold 4,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total value of $445,518.34. Following the sale, the vice president now owns 23,014 shares in the company, valued at $2,352,721.22. The disclosure for this sale can be found here. Insiders sold a total of 59,678 shares of company stock valued at $6,261,693 in the last ninety days. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. American International Group Inc. increased its stake in Carpenter Technology by 0.7% in the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after acquiring an additional 188 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Carpenter Technology by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock valued at $825,000 after purchasing an additional 215 shares in the last quarter. Range Financial Group LLC grew its stake in shares of Carpenter Technology by 2.5% in the 4th quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock valued at $760,000 after purchasing an additional 259 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock worth $1,835,000 after buying an additional 281 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Carpenter Technology by 1.2% during the 4th quarter. Comerica Bank now owns 24,931 shares of the basic materials company’s stock worth $1,765,000 after buying an additional 307 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Company Profile

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.