Brokerages Set Carpenter Technology Co. (NYSE:CRS) Price Target at $167.17

Carpenter Technology Co. (NYSE:CRS) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $167.17.

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

Institutional Trading of Carpenter Technology

A number of hedge funds and other institutional investors have recently modified their holdings of CRS. Kestra Investment Management LLC purchased a new position in Carpenter Technology during the fourth quarter worth about $25,000. Ameriflex Group Inc. acquired a new position in shares of Carpenter Technology in the 4th quarter worth approximately $44,000. CIBC Private Wealth Group LLC boosted its position in shares of Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 127 shares during the period. UMB Bank n.a. grew its stake in shares of Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after buying an additional 191 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology during the third quarter worth about $80,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

NYSE:CRS opened at $181.32 on Thursday. The company has a market cap of $9.06 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. Carpenter Technology has a twelve month low of $70.20 and a twelve month high of $213.66. The company’s 50-day moving average price is $194.01 and its 200-day moving average price is $179.03. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, sell-side analysts forecast that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

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.