Carpenter Technology (NYSE:CRS) Hits New 1-Year High at $160.79

Carpenter Technology Co. (NYSE:CRS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $160.79 and last traded at $160.52, with a volume of 55748 shares. The stock had previously closed at $157.82.

Wall Street Analyst Weigh In

A number of research firms have commented on CRS. TD Cowen upped their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target for the company. Benchmark lifted their price objective on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BTIG Research increased their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Northcoast Research reiterated a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Trading Up 1.5 %

The company’s 50 day simple moving average is $138.66 and its two-hundred day simple moving average is $108.94. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 60.01, a price-to-earnings-growth ratio of 0.77 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The business had revenue of $798.70 million during the quarter, compared to analyst estimates of $763.76 million. During the same period last year, the company earned $0.78 earnings per share. Carpenter Technology’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Carpenter Technology’s dividend payout ratio is 30.42%.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds have recently added to or reduced their stakes in CRS. Janney Montgomery Scott LLC increased its stake in shares of Carpenter Technology by 91.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock worth $1,799,000 after purchasing an additional 12,129 shares during the last quarter. Harvest Investment Services LLC bought a new position in Carpenter Technology during the fourth quarter valued at about $826,000. First Eagle Investment Management LLC raised its holdings in Carpenter Technology by 13.2% during the first quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after buying an additional 17,400 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Carpenter Technology in the first quarter worth about $4,199,000. Finally, Comerica Bank boosted its stake in shares of Carpenter Technology by 170.3% during the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after acquiring an additional 42,449 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.