Carpenter Technology Corporation (CRS) to Issue Quarterly Dividend of $0.20 on December 3rd

Carpenter Technology Corporation (NYSE:CRS) announced a quarterly dividend on Friday, October 9th. Investors of record on Tuesday, October 20th will be given a dividend of $0.20 per share by the basic materials company on Thursday, December 3rd. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 20th.

Carpenter Technology has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $15.82 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 5.1%.

Carpenter Technology Stock Down 0.9%

CRS stock opened at $377.05 on Friday. Carpenter Technology has a one year low of $233.77 and a one year high of $625.98. The firm has a market cap of $18.69 billion, a PE ratio of 35.84, a PEG ratio of 1.33 and a beta of 1.29. The firm’s 50 day moving average price is $443.30 and its 200-day moving average price is $480.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. The firm had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 EPS. On average, equities research analysts anticipate that Carpenter Technology will post 13.27 EPS for the current year.

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of specialty metals and engineered products for applications that require high performance, durability, and resistance to extreme conditions. Founded in 1889, the company produces stainless steels, nickel- and cobalt-based alloys, titanium alloys, and other specialty materials.

Its product offerings include specialty wire, rod, bar, strip, billet, and powder, as well as precision-engineered components and additive-manufacturing materials.