Carpenter Technology (NYSE:CRS) Trading 8% Higher – Should You Buy?

Carpenter Technology Co. (NYSE:CRS) shares shot up 8% on Tuesday . The stock traded as high as $205.00 and last traded at $203.53. 1,272,017 shares were traded during mid-day trading, an increase of 75% from the average session volume of 728,503 shares. The stock had previously closed at $188.44.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRS. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday. Benchmark reissued a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.33.

Carpenter Technology Price Performance

The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $188.45 and its 200 day moving average is $169.70. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 0.96 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS 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%. On average, equities research analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Institutional Investors Weigh In On Carpenter Technology

Large investors have recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC grew its stake in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after buying an additional 127 shares in the last quarter. UMB Bank n.a. grew its stake in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Carpenter Technology during the third quarter worth about $65,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology during the third quarter worth about $80,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

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.