Carpenter Technology Co. (NYSE:CRS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Carpenter Technology Co. (NYSE:CRS) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $123.60.

A number of analysts have recently weighed in on the stock. BTIG Research began coverage on shares of Carpenter Technology in a research note on Wednesday, June 26th. They issued a “buy” rating and a $120.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Carpenter Technology in a report on Tuesday, May 28th. Northcoast Research reiterated a “sell” rating and issued a $89.00 target price on shares of Carpenter Technology in a report on Friday, June 14th. Finally, TD Cowen increased their target price on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th.

Insider Activity at Carpenter Technology

In related news, SVP James D. Dee sold 23,518 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total value of $2,616,612.68. Following the completion of the transaction, the senior vice president now directly owns 84,798 shares in the company, valued at $9,434,625.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $102.11, for a total transaction of $81,892.22. Following the completion of the transaction, the vice president now owns 11,509 shares in the company, valued at $1,175,183.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James D. Dee sold 23,518 shares of Carpenter Technology stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $111.26, for a total value of $2,616,612.68. Following the sale, the senior vice president now directly owns 84,798 shares in the company, valued at $9,434,625.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,678 shares of company stock worth $6,261,693. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Carpenter Technology

Institutional investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. bought a new position in shares of Carpenter Technology during the fourth quarter valued at $29,000. Whittier Trust Co. bought a new position in Carpenter Technology during the 1st quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new position in Carpenter Technology in the fourth quarter valued at about $31,000. Westend Capital Management LLC bought a new stake in Carpenter Technology during the first quarter worth about $36,000. Finally, Covestor Ltd increased its holdings in shares of Carpenter Technology by 469.2% during the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after buying an additional 685 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 2.4 %

Carpenter Technology stock opened at $109.58 on Wednesday. Carpenter Technology has a one year low of $51.94 and a one year high of $112.75. The company’s fifty day moving average price is $102.17 and its two-hundred day moving average price is $80.08. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 41.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The business had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that Carpenter Technology will post 4.35 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd were issued a dividend of $0.20 per share. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.73%. Carpenter Technology’s payout ratio is presently 30.42%.

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.