Carpenter Technology (NYSE:CRS) Reaches New 12-Month High at $83.88

Carpenter Technology Co. (NYSE:CRS) shares reached a new 52-week high during trading on Friday . The company traded as high as $83.88 and last traded at $83.76, with a volume of 41593 shares changing hands. The stock had previously closed at $81.75.

Carpenter Technology Trading Up 2.1 %

The business has a 50-day moving average of $70.46 and a 200 day moving average of $67.90. The stock has a market cap of $4.12 billion, a PE ratio of 28.28 and a beta of 1.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.90.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 25th. The basic materials company reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $669.56 million. Carpenter Technology had a net margin of 5.27% and a return on equity of 10.21%. Equities research analysts predict that Carpenter Technology Co. will post 3.96 EPS for the current fiscal year.

Carpenter Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is 27.68%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRS. Vanguard Group Inc. increased its stake in shares of Carpenter Technology by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,855,711 shares of the basic materials company’s stock valued at $393,562,000 after acquiring an additional 53,994 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Carpenter Technology by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock worth $256,072,000 after purchasing an additional 43,589 shares during the last quarter. FMR LLC raised its stake in Carpenter Technology by 15.9% during the third quarter. FMR LLC now owns 1,545,931 shares of the basic materials company’s stock worth $103,902,000 after purchasing an additional 212,321 shares during the period. Invesco Ltd. grew its stake in shares of Carpenter Technology by 24.2% during the 3rd quarter. Invesco Ltd. now owns 1,331,705 shares of the basic materials company’s stock valued at $89,504,000 after buying an additional 259,330 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Carpenter Technology by 82.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after buying an additional 438,781 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.