Carpenter Technology Corporation (CRS) Given “Hold” Rating at Cowen and Company

Cowen and Company reissued their hold rating on shares of Carpenter Technology Corporation (NYSE:CRS) in a report released on Thursday. The firm currently has a $37.00 target price on the basic materials company’s stock.

Several other analysts have also recently issued reports on the stock. Longbow Research boosted their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a buy rating in a research note on Friday, July 28th. TheStreet raised shares of Carpenter Technology Corporation from a c+ rating to a b rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Carpenter Technology Corporation from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Tuesday, July 18th. Finally, KeyCorp reissued a hold rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Carpenter Technology Corporation has an average rating of Buy and an average price target of $45.50.

Carpenter Technology Corporation (NYSE:CRS) traded up 0.48% on Thursday, reaching $50.09. The company had a trading volume of 379,765 shares. The stock has a market capitalization of $2.34 billion, a PE ratio of 50.60 and a beta of 2.10. The stock has a 50 day moving average price of $45.55 and a 200 day moving average price of $39.69. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $50.92.

Carpenter Technology Corporation (NYSE:CRS) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. Carpenter Technology Corporation’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. Analysts expect that Carpenter Technology Corporation will post $2.24 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. Carpenter Technology Corporation’s dividend payout ratio is presently 72.00%.

In related news, Director I Martin Inglis sold 8,000 shares of Carpenter Technology Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $318,160.00. Following the transaction, the director now owns 11,200 shares in the company, valued at approximately $445,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 2,645 shares of Carpenter Technology Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the transaction, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The disclosure for this sale can be found here. Insiders have sold a total of 26,522 shares of company stock valued at $1,065,580 over the last three months. Corporate insiders own 4.51% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its holdings in shares of Carpenter Technology Corporation by 4.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 39,283 shares of the basic materials company’s stock valued at $1,887,000 after acquiring an additional 1,841 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Carpenter Technology Corporation during the 2nd quarter valued at $672,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Carpenter Technology Corporation by 7.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 370 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Carpenter Technology Corporation by 13.6% during the 2nd quarter. Verition Fund Management LLC now owns 10,149 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Carpenter Technology Corporation by 10.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,634 shares of the basic materials company’s stock valued at $286,000 after acquiri

Several other analysts have also recently issued reports on the stock. Longbow Research boosted their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a buy rating in a research note on Friday, July 28th. TheStreet raised shares of Carpenter Technology Corporation from a c+ rating to a b rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Carpenter Technology Corporation from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Tuesday, July 18th. Finally, KeyCorp reissued a hold rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Carpenter Technology Corporation has an average rating of Buy and an average price target of $45.50.

Carpenter Technology Corporation (NYSE:CRS) traded up 0.48% on Thursday, reaching $50.09. The company had a trading volume of 379,765 shares. The stock has a market capitalization of $2.34 billion, a PE ratio of 50.60 and a beta of 2.10. The stock has a 50 day moving average price of $45.55 and a 200 day moving average price of $39.69. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $50.92.

Carpenter Technology Corporation (NYSE:CRS) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm had revenue of $507.70 million during the quarter, compared to analysts’ expectations of $502.40 million. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. Carpenter Technology Corporation’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. Analysts expect that Carpenter Technology Corporation will post $2.24 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://ledgergazette.com/2017/10/20/carpenter-technology-corporation-crs-given-hold-rating-at-cowen-and-company.html.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, October 24th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. Carpenter Technology Corporation’s dividend payout ratio is presently 72.00%.

In related news, Director I Martin Inglis sold 8,000 shares of Carpenter Technology Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $318,160.00. Following the transaction, the director now owns 11,200 shares in the company, valued at approximately $445,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven E. Karol sold 2,645 shares of Carpenter Technology Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the transaction, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The disclosure for this sale can be found here. Insiders have sold a total of 26,522 shares of company stock valued at $1,065,580 over the last three months. Corporate insiders own 4.51% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its holdings in shares of Carpenter Technology Corporation by 4.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 39,283 shares of the basic materials company’s stock valued at $1,887,000 after acquiring an additional 1,841 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Carpenter Technology Corporation during the 2nd quarter valued at $672,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Carpenter Technology Corporation by 7.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 370 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Carpenter Technology Corporation by 13.6% during the 2nd quarter. Verition Fund Management LLC now owns 10,149 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Carpenter Technology Corporation by 10.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,634 shares of the basic materials company’s stock valued at $286,000 after acquiring an additional 702 shares in the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

Carpenter Technology Corporation Company Profile

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

Analyst Recommendations for Carpenter Technology Corporation (NYSE:CRS)

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