Carpenter Technology Co. (NYSE:CRS) Declares Quarterly Dividend of $0.20

Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Shareholders of record on Tuesday, January 28th will be paid a dividend of 0.20 per share by the basic materials company on Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, January 28th.

Carpenter Technology has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carpenter Technology to earn $8.22 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.7%.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $210.59 on Friday. Carpenter Technology has a 12 month low of $58.87 and a 12 month high of $213.65. The stock’s fifty day moving average price is $186.11 and its 200-day moving average price is $160.91. The firm has a market cap of $10.50 billion, a P/E ratio of 46.90, a P/E/G ratio of 0.98 and a beta of 1.55. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Carpenter Technology will post 6.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $153.00.

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.