Carpenter Technology Corporation (NYSE:CRS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Carpenter Technology Corporation (NYSE:CRS) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $373.4286.

Several research firms have issued reports on CRS. Jones Trading initiated coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They set a “buy” rating and a $400.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $425.00 price target on Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. KeyCorp raised shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price target for the company in a research report on Thursday, November 13th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a research note on Friday, November 14th.

Insider Buying and Selling

In other Carpenter Technology news, COO Brian J. Malloy sold 43,688 shares of Carpenter Technology stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $304.45, for a total transaction of $13,300,811.60. Following the sale, the chief operating officer directly owned 78,875 shares of the company’s stock, valued at approximately $24,013,493.75. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Elizabeth A. Socci sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total value of $1,252,875.00. Following the transaction, the vice president owned 9,594 shares in the company, valued at $3,082,072.50. This trade represents a 28.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 79,358 shares of company stock valued at $24,254,008. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Carpenter Technology during the 4th quarter valued at $195,254,000. Aspex Management HK Ltd bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $136,215,000. William Blair Investment Management LLC bought a new position in shares of Carpenter Technology in the second quarter worth about $134,790,000. TOMS Capital Investment Management LP purchased a new position in shares of Carpenter Technology during the 2nd quarter valued at about $106,683,000. Finally, UBS Group AG grew its stake in shares of Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after acquiring an additional 382,865 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $385.29 on Thursday. The business’s 50-day moving average price is $329.94 and its 200-day moving average price is $290.76. The firm has a market capitalization of $19.19 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30. Carpenter Technology has a 12 month low of $138.61 and a 12 month high of $387.76. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results 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 net margin of 14.77% and a return on equity of 23.63%. The business had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $733.76 million. During the same period last year, the business earned $1.66 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Carpenter Technology will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, January 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.29%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.