Carpenter Technology Co. (NYSE:CRS) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Carpenter Technology Co. (NYSE:CRS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $168.00.

A number of research analysts have commented on CRS shares. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st.

Insider Buying and Selling at Carpenter Technology

In other news, Director I Martin Inglis sold 3,433 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $197.66, for a total transaction of $678,566.78. Following the completion of the transaction, the director now owns 6,732 shares of the company's stock, valued at approximately $1,330,647.12. This trade represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds have recently bought and sold shares of CRS. FMR LLC grew its holdings in shares of Carpenter Technology by 28.3% during the fourth quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after buying an additional 979,313 shares during the last quarter. Invesco Ltd. grew its stake in Carpenter Technology by 37.1% during the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company's stock valued at $381,869,000 after acquiring an additional 570,441 shares in the last quarter. Egerton Capital UK LLP purchased a new position in Carpenter Technology during the first quarter valued at approximately $329,727,000. SurgoCap Partners LP grew its stake in Carpenter Technology by 117.6% in the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock worth $244,734,000 after buying an additional 779,357 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Carpenter Technology by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock valued at $193,279,000 after purchasing an additional 38,411 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Up 0.4%

NYSE:CRS opened at $231.00 on Friday. Carpenter Technology has a 52 week low of $95.17 and a 52 week high of $234.52. The firm has a market capitalization of $11.50 billion, a PE ratio of 43.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. The stock has a 50 day moving average of $187.15 and a 200-day moving average of $186.69. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.74 by $0.14. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Analysts predict that Carpenter Technology will post 6.83 EPS for the current year.

Carpenter Technology announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.35%. Carpenter Technology's payout ratio is presently 11.33%.

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.

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