Carpenter Technology (NYSE:CRS) Given New $240.00 Price Target at JPMorgan Chase & Co.

Carpenter Technology (NYSE:CRS) had its price target lifted by JPMorgan Chase & Co. from $235.00 to $240.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

Separately, Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $156.33.

Carpenter Technology Price Performance

Shares of CRS stock opened at $209.92 on Wednesday. The stock has a 50 day moving average of $187.83 and a two-hundred day moving average of $169.44. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology has a 12 month low of $62.99 and a 12 month high of $213.65. The company has a market capitalization of $10.49 billion, a P/E ratio of 39.61, a P/E/G ratio of 0.88 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, equities analysts expect that Carpenter Technology will post 6.83 EPS for the current 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. Carpenter Technology’s dividend payout ratio is 15.09%.

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. increased its holdings in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after purchasing an additional 63 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 71 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 78 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Carpenter Technology by 4.6% during the 4th quarter. EP Wealth Advisors LLC now owns 2,168 shares of the basic materials company’s stock valued at $368,000 after purchasing an additional 95 shares in the last quarter. Finally, Strengthening Families & Communities LLC increased its holdings in Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after purchasing an additional 100 shares in the last quarter. 92.03% of the stock is 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.