Carpenter Technology (NYSE:CRS) Rating Reiterated by Northcoast Research

Northcoast Research reaffirmed their neutral rating on shares of Carpenter Technology (NYSE:CRS - Free Report) in a report issued on Monday, Marketbeat Ratings reports.

Separately, TD Cowen upped their price objective on Carpenter Technology from $90.00 to $116.00 and gave the company a buy rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $96.33.

Carpenter Technology Price Performance

CRS stock traded down $1.73 during trading on Monday, hitting $101.91. The company had a trading volume of 680,795 shares, compared to its average volume of 533,889. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 38.75 and a beta of 1.47. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $74.82 and a 200 day moving average of $69.38. Carpenter Technology has a fifty-two week low of $44.40 and a fifty-two week high of $104.85.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.25. The business had revenue of $684.90 million during the quarter, compared to analysts' expectations of $707.73 million. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business's revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. As a group, research analysts predict that Carpenter Technology will post 3.97 earnings per share for the current year.

Carpenter Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, April 22nd. This is a positive change from Carpenter Technology's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.79%. Carpenter Technology's dividend payout ratio (DPR) is currently 30.42%.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of CRS. Cape Investment Advisory Inc. acquired a new position in shares of Carpenter Technology in the 4th quarter valued at about $29,000. Whittier Trust Co. acquired a new position in Carpenter Technology in the 1st quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $31,000. Westend Capital Management LLC acquired a new stake in shares of Carpenter Technology during the 1st quarter valued at $36,000. Finally, Fifth Third Bancorp grew its holdings in shares of Carpenter Technology by 322.5% during the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 887 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

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.