Carpenter Technology Co. (NYSE:CRS) VP James D. Dee sold 3,684 shares of the stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $58.33, for a total transaction of $214,887.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Carpenter Technology stock traded down $0.05 during midday trading on Thursday, reaching $59.20. 6,551 shares of the company’s stock traded hands, compared to its average volume of 445,864. The company has a market capitalization of $2.74 billion, a P/E ratio of 54.76 and a beta of 2.01. The company has a current ratio of 2.97, a quick ratio of 1.14 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52 week low of $58.51 and a 52 week high of $59.55.
Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $572.20 million for the quarter, compared to the consensus estimate of $518.98 million. Carpenter Technology had a net margin of 8.36% and a return on equity of 8.23%. Carpenter Technology’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. equities research analysts predict that Carpenter Technology Co. will post 2.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Stockholders of record on Tuesday, May 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, April 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Carpenter Technology’s dividend payout ratio is currently 66.67%.
A number of research analysts have recently weighed in on CRS shares. ValuEngine upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Cowen restated a “hold” rating and set a $53.00 price target on shares of Carpenter Technology in a report on Thursday, April 26th. Zacks Investment Research upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a report on Monday, April 16th. Finally, Deutsche Bank raised their price target on shares of Carpenter Technology from $47.00 to $49.00 and gave the company a “hold” rating in a report on Wednesday, April 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Carpenter Technology currently has a consensus rating of “Buy” and an average target price of $53.25.
Several institutional investors have recently added to or reduced their stakes in CRS. Knowledge Leaders Capital LLC bought a new position in Carpenter Technology in the 4th quarter worth $2,415,000. Bank of Montreal Can raised its holdings in Carpenter Technology by 3.6% in the 4th quarter. Bank of Montreal Can now owns 67,816 shares of the basic materials company’s stock worth $3,458,000 after acquiring an additional 2,359 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Carpenter Technology by 3.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 396,750 shares of the basic materials company’s stock worth $20,231,000 after acquiring an additional 12,427 shares during the period. James Investment Research Inc. bought a new position in Carpenter Technology in the 4th quarter worth $2,990,000. Finally, SG Americas Securities LLC bought a new position in Carpenter Technology in the 4th quarter worth $965,000. Institutional investors and hedge funds own 97.68% of the company’s stock.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through 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.
Receive News & Ratings for Carpenter Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology and related companies with MarketBeat.com's FREE daily email newsletter.