Carpenter Technology (NYSE:CRS) Hits New 52-Week High at $160.79

Carpenter Technology Co. (NYSE:CRS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $160.79 and last traded at $160.52, with a volume of 55748 shares changing hands. The stock had previously closed at $157.82.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRS shares. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. TD Cowen boosted their price target on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 10th. Northcoast Research reiterated a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a research report on Friday, June 14th. BTIG Research upped their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Benchmark lifted their price target on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Stock Up 1.1 %

The company has a current ratio of 3.41, a quick ratio of 1.84 and a debt-to-equity ratio of 0.43. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 61.47, a P/E/G ratio of 0.89 and a beta of 1.45. The business has a fifty day moving average price of $140.28 and a two-hundred day moving average price of $109.96.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. The firm had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. On average, equities analysts predict that Carpenter Technology Co. will post 6.09 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were issued a $0.20 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Carpenter Technology’s dividend payout ratio is currently 30.42%.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of the business. Cape Investment Advisory Inc. bought a new position in Carpenter Technology during the fourth quarter worth $29,000. Whittier Trust Co. bought a new position in shares of Carpenter Technology during the 1st quarter worth about $30,000. Johnson Financial Group Inc. bought a new position in shares of Carpenter Technology during the 4th quarter worth about $31,000. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology during the second quarter valued at about $33,000. Finally, Westend Capital Management LLC bought a new stake in shares of Carpenter Technology in the first quarter valued at about $36,000. 92.03% of the stock is owned by 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.