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

Carpenter Technology Corporation (NYSE:CRS) announced a quarterly dividend on Wednesday, August 12th. Stockholders of record on Tuesday, August 25th will be given a dividend of 0.20 per share by the basic materials company on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, August 25th.

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 $15.46 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 5.2%.

Carpenter Technology Stock Down 1.6%

CRS opened at $528.83 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23. Carpenter Technology has a 12 month low of $228.00 and a 12 month high of $625.98. The stock has a market capitalization of $26.28 billion, a P/E ratio of 50.27, a P/E/G ratio of 1.95 and a beta of 1.25. The business has a 50 day simple moving average of $566.95 and a 200-day simple moving average of $460.28.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. The firm had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.Carpenter Technology’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share. On average, equities analysts anticipate that Carpenter Technology will post 12.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Carpenter Technology in the 2nd quarter worth about $28,000. Keating Financial Advisory Services Inc. purchased a new position in Carpenter Technology during the 2nd quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Carpenter Technology during the 1st quarter valued at about $30,000. SJS Investment Consulting Inc. raised its position in Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Carpenter Technology during the second quarter worth about $43,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

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.