Carpenter Technology Co. (CRS) To Go Ex-Dividend on April 22nd

Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Friday, April 12th, investing.com reports. Shareholders of record on Tuesday, April 23rd will be given a dividend of 0.20 per share by the basic materials company on Thursday, June 6th. This represents a $0.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Monday, April 22nd. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18.

Carpenter Technology has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $4.58 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 17.5%.

Carpenter Technology Stock Down 1.7 %

Shares of CRS stock opened at $78.02 on Friday. The firm has a fifty day moving average of $69.44 and a 200-day moving average of $67.58. The company has a quick ratio of 1.26, a current ratio of 2.90 and a debt-to-equity ratio of 0.47. Carpenter Technology has a 12-month low of $44.40 and a 12-month high of $82.16. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 27.00 and a beta of 1.56.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 25th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Carpenter Technology had a net margin of 5.27% and a return on equity of 10.21%. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $669.56 million. As a group, equities research analysts predict that Carpenter Technology will post 3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRS. JPMorgan Chase & Co. grew its position in Carpenter Technology by 168.6% in the first quarter. JPMorgan Chase & Co. now owns 125,803 shares of the basic materials company’s stock valued at $5,281,000 after purchasing an additional 78,961 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Carpenter Technology by 11.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,917 shares of the basic materials company’s stock valued at $416,000 after purchasing an additional 1,009 shares in the last quarter. Private Advisor Group LLC bought a new position in Carpenter Technology in the first quarter valued at $325,000. Citigroup Inc. grew its position in Carpenter Technology by 4.1% in the first quarter. Citigroup Inc. now owns 42,825 shares of the basic materials company’s stock valued at $1,797,000 after purchasing an additional 1,685 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Carpenter Technology by 38.5% in the first quarter. MetLife Investment Management LLC now owns 25,021 shares of the basic materials company’s stock valued at $1,050,000 after purchasing an additional 6,949 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

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.