Carpenter Technology Co. (NYSE:CRS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Carpenter Technology Co. (NYSE:CRS) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $167.17.

Several equities research analysts recently commented on CRS shares. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $207.25 on Friday. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $10.35 billion, a PE ratio of 39.10, a P/E/G ratio of 0.93 and a beta of 1.54. The company’s fifty day simple moving average is $191.91 and its 200-day simple moving average is $172.55. Carpenter Technology has a 52 week low of $62.99 and a 52 week high of $213.65.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, equities research analysts anticipate that Carpenter Technology will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.39%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Hedge Funds Weigh In On Carpenter Technology

A number of institutional investors have recently made changes to their positions in CRS. Private Advisor Group LLC increased its stake in shares of Carpenter Technology by 3.8% in the third quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock worth $846,000 after buying an additional 196 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Carpenter Technology by 2.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,948 shares of the basic materials company’s stock worth $1,907,000 after purchasing an additional 319 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Carpenter Technology by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,968 shares of the basic materials company’s stock valued at $1,910,000 after purchasing an additional 457 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Carpenter Technology by 6.8% during the third quarter. New York State Teachers Retirement System now owns 64,163 shares of the basic materials company’s stock worth $10,239,000 after purchasing an additional 4,094 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 180 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

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.