Carpenter Technology Corporation (CRS) to Distribute Quarterly Dividend of $0.20 on September 3rd

Carpenter Technology Corporation (NYSE:CRS) announced a quarterly dividend on Wednesday, August 12th. Investors of record on Tuesday, August 25th will be given a dividend of 0.20 per share by the basic materials company on Thursday, September 3rd. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th.

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 $15.62 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 Up 1.2%

Shares of Carpenter Technology stock opened at $494.98 on Friday. Carpenter Technology has a 12-month low of $228.00 and a 12-month high of $625.98. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $566.88 and a two-hundred day moving average price of $468.62. The stock has a market capitalization of $24.53 billion, a P/E ratio of 47.05, a PEG ratio of 1.77 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The company had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same quarter last year, the firm posted $2.21 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts expect that Carpenter Technology will post 13.08 earnings per share for the current year.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Carpenter Technology during the second quarter valued at about $3,834,623,000. Jennison Associates LLC bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $317,411,000. SurgoCap Partners LP bought a new stake in shares of Carpenter Technology in the 2nd quarter worth approximately $423,444,000. Sands Capital Management LLC bought a new stake in shares of Carpenter Technology in the 4th quarter worth approximately $195,731,000. Finally, Norges Bank acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $195,254,000. Institutional investors own 92.03% of the company’s stock.

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.