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

Shares of Carpenter Technology Corporation (NYSE:CRS) have received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $385.50.

A number of equities analysts have recently issued reports on the company. BTIG Research raised their price target on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carpenter Technology in a research report on Tuesday, January 27th. Susquehanna assumed coverage on Carpenter Technology in a report on Tuesday, March 3rd. They issued a “positive” rating and a $470.00 target price on the stock. KeyCorp assumed coverage on Carpenter Technology in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $380.00 target price on the stock. Finally, Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st.

Carpenter Technology Stock Up 6.4%

Shares of Carpenter Technology stock opened at $394.26 on Friday. Carpenter Technology has a twelve month low of $138.61 and a twelve month high of $412.31. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $372.28 and its 200 day moving average is $324.17. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 29th. The basic materials company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 EPS. Research analysts anticipate that Carpenter Technology will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, January 27th. Carpenter Technology’s payout ratio is 9.29%.

Insider Activity at Carpenter Technology

In other news, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the transaction, the senior vice president directly owned 73,739 shares of the company’s stock, valued at $28,889,465.42. The trade was a 17.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $381.12, for a total value of $1,333,920.00. Following the transaction, the director owned 225,381 shares of the company’s stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,300 shares of company stock valued at $8,664,044 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carpenter Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Advisory Services Inc. increased its holdings in Carpenter Technology by 3.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after buying an additional 32 shares in the last quarter. Abel Hall LLC boosted its stake in shares of Carpenter Technology by 3.2% during the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 32 shares in the last quarter. Brown Miller Wealth Management LLC grew its position in shares of Carpenter Technology by 2.4% during the 4th quarter. Brown Miller Wealth Management LLC now owns 1,411 shares of the basic materials company’s stock valued at $444,000 after acquiring an additional 33 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in shares of Carpenter Technology by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after acquiring an additional 34 shares during the period. Finally, Clearstead Advisors LLC increased its stake in shares of Carpenter Technology by 17.9% in the 3rd quarter. Clearstead Advisors LLC now owns 237 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 36 shares in the last quarter. 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.