Carpenter Technology (NYSE:CRS) Reaches New 12-Month High at $83.88

Carpenter Technology Co. (NYSE:CRS)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $83.88 and last traded at $83.76, with a volume of 41593 shares traded. The stock had previously closed at $81.75.

Carpenter Technology Trading Up 2.8 %

The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 29.07 and a beta of 1.56. The company’s 50-day moving average is $71.13 and its 200-day moving average is $68.11. The company has a quick ratio of 1.26, a current ratio of 2.90 and a debt-to-equity ratio of 0.47.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 25th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Carpenter Technology had a net margin of 5.27% and a return on equity of 10.21%. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $669.56 million. Research analysts anticipate that Carpenter Technology Co. will post 3.96 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.20 per share. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 27.68%.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently bought and sold shares of CRS. Cape Investment Advisory Inc. purchased a new position in Carpenter Technology during the fourth quarter worth about $29,000. Johnson Financial Group Inc. purchased a new position in Carpenter Technology during the fourth quarter worth about $31,000. Westend Capital Management LLC purchased a new position in Carpenter Technology during the first quarter worth about $36,000. Fifth Third Bancorp boosted its stake in Carpenter Technology by 322.5% during the fourth quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after buying an additional 887 shares during the period. Finally, NBC Securities Inc. purchased a new position in Carpenter Technology during the third quarter worth about $91,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Company Profile

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.