Carpenter Technology (NYSE:CRS) Price Target Raised to $235.00

Carpenter Technology (NYSE:CRS) had its price objective raised by JPMorgan Chase & Co. from $220.00 to $235.00 in a research note published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

Separately, Benchmark restated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $155.50.

Carpenter Technology Stock Up 1.7 %

CRS stock opened at $209.60 on Monday. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 46.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The business’s 50 day moving average price is $187.51 and its two-hundred day moving average price is $162.91. Carpenter Technology has a fifty-two week low of $58.87 and a fifty-two week high of $213.65.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Institutional Trading of Carpenter Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Kimelman & Baird LLC bought a new stake in shares of Carpenter Technology during the second quarter valued at approximately $33,000. UMB Bank n.a. increased its holdings in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 191 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Carpenter Technology in the third quarter worth $64,000. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the third quarter worth $65,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology during the third quarter valued at $80,000. 92.03% of the stock is currently owned by institutional investors.

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.