Carpenter Technology Corporation to Issue Quarterly Dividend of $0.20 (NYSE:CRS)

Key Points

• Carpenter Technology declared a quarterly dividend of $0.20 per share (annualized $0.80), with record/ex-dividend date on April 28 and payment on June 4, implying a yield of about 0.2%.
• The dividend appears well covered by earnings, with a low payout ratio of roughly 8.8%, and analysts expect the company should continue to be able to cover the annual payout.
• Shares jumped about 4.6% to $445.75 after the company reported quarterly EPS of $2.33 (beating estimates) and 7.5% year-over-year revenue growth; the stock trades near its 52-week high with a market cap around $22.2 billion.

Carpenter Technology Corporation (NYSE:CRS - Get Free Report) declared a quarterly dividend on Friday, April 17th. Investors of record on Tuesday, April 28th will be paid a dividend of 0.20 per share by the basic materials company on Thursday, June 4th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, April 28th.

Carpenter Technology has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Carpenter Technology to earn $8.08 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 9.9%.

Carpenter Technology Stock Up 4.6%

NYSE:CRS traded up $19.59 on Friday, hitting $445.75. The stock had a trading volume of 678,079 shares, compared to its average volume of 807,280. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. Carpenter Technology has a 52 week low of $165.00 and a 52 week high of $450.00. The business's fifty day moving average is $392.66 and its 200 day moving average is $337.73. The company has a market cap of $22.20 billion, a PE ratio of 51.77, a P/E/G ratio of 1.65 and a beta of 1.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The firm had revenue of $728.00 million during the quarter, compared to analysts' expectations of $733.76 million. During the same quarter last year, the firm posted $1.66 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Carpenter Technology will post 6.83 EPS for the current fiscal year.

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.

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