Carpenter Technology (NYSE:CRS) Price Target Raised to $240.00

Carpenter Technology (NYSE:CRS) had its price target raised by JPMorgan Chase & Co. from $235.00 to $240.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Separately, Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.33.

Carpenter Technology Trading Down 6.2 %

Shares of Carpenter Technology stock opened at $195.21 on Wednesday. The firm’s 50 day moving average is $188.87 and its 200 day moving average is $170.14. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology has a 1 year low of $62.99 and a 1 year high of $213.65. The firm has a market capitalization of $9.75 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Equities research analysts forecast that Carpenter Technology will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Institutional Trading of Carpenter Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its stake in Carpenter Technology by 177.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,540 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Carpenter Technology by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,084 shares of the basic materials company’s stock valued at $17,494,000 after purchasing an additional 15,853 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Carpenter Technology during the 4th quarter valued at $20,101,000. Two Sigma Advisers LP grew its stake in shares of Carpenter Technology by 5.9% in the 4th quarter. Two Sigma Advisers LP now owns 1,800 shares of the basic materials company’s stock worth $305,000 after acquiring an additional 100 shares in the last quarter. Finally, Tyro Capital Management LLC grew its stake in shares of Carpenter Technology by 20.1% in the 4th quarter. Tyro Capital Management LLC now owns 178,693 shares of the basic materials company’s stock worth $30,326,000 after acquiring an additional 29,944 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.