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

Shares of Carpenter Technology Corporation (NYSE:CRS) have received a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $373.4286.

CRS has been the topic of several analyst reports. BTIG Research raised their target price on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Deutsche Bank Aktiengesellschaft set a $425.00 target price on shares of Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $388.00 to $394.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target on the stock in a research report on Thursday, November 13th.

Insider Activity

In other Carpenter Technology news, COO Brian J. Malloy sold 43,688 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $304.45, for a total value of $13,300,811.60. Following the sale, the chief operating officer directly owned 78,875 shares of the company’s stock, valued at approximately $24,013,493.75. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Elizabeth A. Socci sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $321.25, for a total value of $1,252,875.00. Following the completion of the sale, the vice president owned 9,594 shares of the company’s stock, valued at $3,082,072.50. This trade represents a 28.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 79,358 shares of company stock valued at $24,254,008. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRS. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology during the second quarter worth $28,000. Armstrong Advisory Group Inc. increased its stake in shares of Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 43 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $41,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Carpenter Technology by 54.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock valued at $42,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 1.4%

Shares of Carpenter Technology stock opened at $334.34 on Thursday. The stock has a market cap of $16.65 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. The firm has a fifty day moving average price of $325.15 and a 200 day moving average price of $287.76. Carpenter Technology has a 1 year low of $138.61 and a 1 year high of $355.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.25 and a quick ratio of 2.26.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.13. The company had revenue of $589.10 million for the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. Equities research analysts predict that Carpenter Technology will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 9.29%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.