CRS has been the subject of a number of other research reports. KeyCorp restated a hold rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Carpenter Technology Corporation from a hold rating to a buy rating and set a $56.00 price objective for the company in a research note on Tuesday, October 3rd. Longbow Research lifted their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a buy rating in a research note on Friday, July 28th. Finally, TheStreet upgraded Carpenter Technology Corporation from a c+ rating to a b rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $48.17.
Carpenter Technology Corporation (CRS) traded down $0.36 on Thursday, reaching $46.24. The company had a trading volume of 296,200 shares, compared to its average volume of 354,758. Carpenter Technology Corporation has a fifty-two week low of $34.24 and a fifty-two week high of $51.88. The company has a current ratio of 2.91, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. The company has a market cap of $2,160.00, a price-to-earnings ratio of 28.07 and a beta of 2.09.
Carpenter Technology Corporation (NYSE:CRS) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $479.80 million during the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology Corporation had a return on equity of 6.67% and a net margin of 4.06%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. equities research analysts anticipate that Carpenter Technology Corporation will post 2.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.72 annualized dividend and a yield of 1.56%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 44.72%.
In related news, Director Steven E. Karol sold 2,645 shares of Carpenter Technology Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $40.50, for a total transaction of $107,122.50. Following the transaction, the director now directly owns 230,418 shares in the company, valued at $9,331,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director I Martin Inglis sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $39.77, for a total value of $318,160.00. Following the completion of the transaction, the director now owns 11,200 shares in the company, valued at $445,424. The disclosure for this sale can be found here. Insiders have sold 22,645 shares of company stock worth $909,803 over the last quarter. 4.51% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Huntington National Bank lifted its position in shares of Carpenter Technology Corporation by 2,595.0% in the second quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock worth $101,000 after buying an additional 2,595 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of Carpenter Technology Corporation by 64.5% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after buying an additional 1,097 shares in the last quarter. Dubuque Bank & Trust Co. lifted its position in shares of Carpenter Technology Corporation by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after buying an additional 107 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Carpenter Technology Corporation by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after buying an additional 556 shares in the last quarter. Finally, Turner Investments LLC purchased a new stake in shares of Carpenter Technology Corporation in the third quarter worth about $192,000. Institutional investors own 97.62% of the company’s stock.
About Carpenter Technology Corporation
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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