Carpenter Technology Corp. (CRS) Shares Up 3.1%
Carpenter Technology Corp. (NYSE:CRS) shot up 3.1% during trading on Monday . The company traded as high as $37.73 and last traded at $37.69, with a volume of 63,637 shares traded. The stock had previously closed at $36.54.
A number of brokerages have commented on CRS. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, July 18th. Rosenblatt Securities reissued a “buy” rating and set a $42.00 price objective on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Carpenter Technology Corp. in a report on Monday, May 16th.
The stock’s 50-day moving average price is $38.07 and its 200-day moving average price is $34.32. The firm has a market cap of $1.71 billion and a P/E ratio of 159.78.
Carpenter Technology Corp. (NYSE:CRS) last posted its earnings results on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. During the same period in the prior year, the business posted $0.52 EPS. The firm had revenue of $457.70 million for the quarter, compared to analyst estimates of $454 million. The firm’s quarterly revenue was down 18.0% compared to the same quarter last year. Analysts anticipate that Carpenter Technology Corp. will post $1.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Tuesday, August 23rd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, August 19th.
In related news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of C$38.78, for a total value of C$401,683.24. Following the completion of the transaction, the director now owns 12,613 shares of the company’s stock, valued at C$489,132.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Carpenter Technology Corporation is engaged in the manufacture, fabrication and distribution of specialty metals. It develops, manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense, energy, transportation, medical and industrial and consumer industries.