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

Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Thursday, April 10th, RTT News reports. Investors of record on Tuesday, April 22nd will be paid a dividend of 0.20 per share by the basic materials company on Thursday, June 5th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%.

Carpenter Technology has a payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carpenter Technology to earn $8.08 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 9.9%.

Carpenter Technology Stock Performance

Shares of CRS opened at $167.52 on Friday. The firm has a fifty day moving average of $185.92 and a 200-day moving average of $180.28. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology has a 1 year low of $74.21 and a 1 year high of $213.66.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, equities analysts anticipate that Carpenter Technology will post 6.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRS shares. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. Northcoast Research upgraded shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.17.

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.