Carpenter Technology Co. (CRS) to Issue Quarterly Dividend of $0.20 on December 5th

Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Thursday, October 10th, NASDAQ reports. Stockholders of record on Tuesday, October 22nd will be given a dividend of 0.20 per share by the basic materials company on Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Carpenter Technology has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $7.39 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 10.8%.

Carpenter Technology Trading Down 0.4 %

Shares of Carpenter Technology stock opened at $162.00 on Friday. Carpenter Technology has a 1 year low of $58.87 and a 1 year high of $166.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84. The stock has a market cap of $8.09 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The firm has a fifty day moving average price of $146.77 and a 200 day moving average price of $117.37.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $763.76 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that Carpenter Technology will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRS has been the subject of several recent research reports. BTIG Research lifted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Benchmark increased their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northcoast Research restated a “sell” rating and issued a $89.00 price target on shares of Carpenter Technology in a research note on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

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.