Carpenter Technology (NYSE:CRS) Sets New 52-Week High – Should You Buy?

Carpenter Technology Co. (NYSE:CRS)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $196.84 and last traded at $195.11, with a volume of 53265 shares traded. The stock had previously closed at $190.97.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRS. BTIG Research boosted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Stock Up 0.5 %

The business has a 50 day simple moving average of $163.94 and a 200 day simple moving average of $136.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The stock has a market cap of $9.78 billion, a PE ratio of 43.68, a P/E/G ratio of 0.97 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Institutional Trading of Carpenter Technology

Several large investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after acquiring an additional 17,497 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after acquiring an additional 479,047 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after acquiring an additional 103,559 shares in the last quarter. Finally, Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology during the 2nd quarter worth about $73,850,000. Institutional investors own 92.03% of the company’s stock.

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.