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

Carpenter Technology Corporation (NYSE:CRS) has earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $504.8750.

A number of brokerages have recently issued reports on CRS. BTIG Research increased their target price on Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Susquehanna boosted their price target on Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $465.00 to $470.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. TD Cowen increased their price objective on Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company lifted their price objective on Carpenter Technology from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Monday, May 4th.

Insider Activity

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the sale, the director directly owned 750 shares in the company, valued at $317,895. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Carpenter Technology

A number of large investors have recently bought and sold shares of CRS. Wealthcare Advisory Partners LLC raised its position in shares of Carpenter Technology by 1.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock valued at $708,000 after buying an additional 19 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Carpenter Technology by 3.7% during the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 32 shares in the last quarter. Abel Hall LLC increased its stake in Carpenter Technology by 3.2% in the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 32 shares during the last quarter. Brown Miller Wealth Management LLC raised its position in Carpenter Technology by 2.4% during the fourth quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 33 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in Carpenter Technology by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after purchasing an additional 34 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

NYSE CRS traded down $12.16 on Friday, reaching $578.78. The company’s stock had a trading volume of 515,330 shares, compared to its average volume of 862,748. The firm has a market cap of $28.76 billion, a PE ratio of 60.92, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The business has a 50-day moving average price of $512.58 and a 200 day moving average price of $422.29. Carpenter Technology has a 52 week low of $228.00 and a 52 week high of $625.98. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $655.60 million during the quarter, compared to analysts’ expectations of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. Sell-side analysts expect that Carpenter Technology will post 10.56 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology’s dividend payout ratio (DPR) is currently 8.42%.

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.