Carpenter Technology (NYSE:CRS) Stock Rating Lowered by downgraded shares of Carpenter Technology (NYSE:CRSGet Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Several other analysts have also issued reports on the company. Cowen upgraded Carpenter Technology from a market perform rating to an outperform rating and set a $45.00 price objective on the stock in a research note on Monday, September 12th. Cowen raised Carpenter Technology from a market perform rating to an outperform rating and set a $45.00 target price on the stock in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of Moderate Buy and an average price target of $47.75.

Carpenter Technology Stock Performance

CRS opened at $41.09 on Tuesday. Carpenter Technology has a 52-week low of $24.76 and a 52-week high of $44.96. The firm has a market capitalization of $1.99 billion, a PE ratio of -47.78 and a beta of 1.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 2.80. The business’s 50-day simple moving average is $36.68 and its 200 day simple moving average is $34.04.

Carpenter Technology (NYSE:CRSGet Rating) last released its quarterly earnings data on Thursday, October 27th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $522.90 million for the quarter, compared to analyst estimates of $558.00 million. Carpenter Technology had a negative return on equity of 3.35% and a negative net margin of 2.09%. As a group, sell-side analysts expect that Carpenter Technology will post 1.15 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, October 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, October 24th. Carpenter Technology’s dividend payout ratio is currently -93.02%.

Institutional Investors Weigh In On Carpenter Technology

Large investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. bought a new position in Carpenter Technology in the first quarter valued at approximately $67,000. Swiss National Bank lifted its position in shares of Carpenter Technology by 7.6% during the 1st quarter. Swiss National Bank now owns 113,900 shares of the basic materials company’s stock worth $4,782,000 after buying an additional 8,000 shares during the last quarter. Versor Investments LP acquired a new stake in Carpenter Technology in the second quarter valued at about $544,000. Emerald Advisers LLC grew its position in Carpenter Technology by 36.7% in the second quarter. Emerald Advisers LLC now owns 625,706 shares of the basic materials company’s stock valued at $17,463,000 after acquiring an additional 167,935 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. raised its stake in Carpenter Technology by 3.1% during the first quarter. Financial Engines Advisors L.L.C. now owns 23,052 shares of the basic materials company’s stock worth $968,000 after acquiring an additional 699 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Carpenter Technology Company Profile

(Get Rating)

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.

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