TD Cowen Increases Carpenter Technology (NYSE:CRS) Price Target to $125.00

Carpenter Technology (NYSE:CRSFree Report) had its target price increased by TD Cowen from $116.00 to $125.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the company. Northcoast Research reissued a neutral rating on shares of Carpenter Technology in a research note on Monday, May 6th. Benchmark reaffirmed a buy rating and set a $140.00 price target on shares of Carpenter Technology in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $112.67.

Get Our Latest Research Report on Carpenter Technology

Carpenter Technology Trading Down 1.1 %

Shares of CRS stock opened at $104.68 on Monday. Carpenter Technology has a 12-month low of $50.61 and a 12-month high of $112.75. The company has a quick ratio of 1.45, a current ratio of 3.20 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $96.43 and a two-hundred day moving average price of $77.25. The firm has a market cap of $5.19 billion, a P/E ratio of 39.80 and a beta of 1.47.

Carpenter Technology (NYSE:CRSGet Free Report) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The company had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. During the same quarter in the previous year, the company posted $0.38 EPS. Carpenter Technology’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts anticipate that Carpenter Technology will post 4.31 EPS for the current fiscal year.

Carpenter Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd were given a dividend of $0.20 per share. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.76%. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, SVP James D. Dee sold 23,518 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the completion of the transaction, the senior vice president now owns 84,798 shares of the company’s stock, valued at approximately $9,434,625.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carpenter Technology news, SVP James D. Dee sold 23,518 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total transaction of $2,616,612.68. Following the transaction, the senior vice president now owns 84,798 shares in the company, valued at approximately $9,434,625.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marshall D. Akins sold 4,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $102.23, for a total value of $445,518.34. Following the transaction, the vice president now owns 23,014 shares in the company, valued at approximately $2,352,721.22. The disclosure for this sale can be found here. Insiders sold 59,678 shares of company stock valued at $6,261,693 in the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. grew its stake in shares of Carpenter Technology by 0.7% in the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock worth $1,887,000 after buying an additional 188 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Carpenter Technology by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after buying an additional 215 shares during the last quarter. Range Financial Group LLC grew its stake in shares of Carpenter Technology by 2.5% in the 4th quarter. Range Financial Group LLC now owns 10,728 shares of the basic materials company’s stock worth $760,000 after buying an additional 259 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Carpenter Technology by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock worth $1,835,000 after buying an additional 281 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Carpenter Technology by 1.2% in the 4th quarter. Comerica Bank now owns 24,931 shares of the basic materials company’s stock worth $1,765,000 after buying an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Company Profile

(Get Free Report)

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.

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