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

Carpenter Technology Co. (NYSE:CRSGet Free Report) announced a quarterly dividend on Friday, April 12th, investing.com reports. Investors 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 dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, April 22nd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18.

Carpenter Technology has a dividend payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.7 %

NYSE CRS opened at $78.04 on Friday. 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 twelve month low of $44.40 and a twelve month high of $82.16. The firm has a market capitalization of $3.86 billion, a PE ratio of 27.00 and a beta of 1.56. The stock’s 50 day moving average is $69.44 and its 200 day moving average is $67.60.

Carpenter Technology (NYSE:CRSGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The basic materials company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $669.56 million. Research analysts forecast that Carpenter Technology will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carpenter Technology

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in Carpenter Technology in the first quarter worth $26,000. Tower Research Capital LLC TRC boosted its holdings in Carpenter Technology by 124.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 543 shares in the last quarter. Point72 Middle East FZE bought a new stake in Carpenter Technology in the fourth quarter worth $95,000. Captrust Financial Advisors boosted its holdings in Carpenter Technology by 57.8% in the first quarter. Captrust Financial Advisors now owns 3,704 shares of the basic materials company’s stock worth $155,000 after acquiring an additional 1,356 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Carpenter Technology in the fourth quarter worth $201,000. 92.03% of the stock is owned by institutional investors.

About Carpenter Technology

(Get Free Report)

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.

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Dividend History for Carpenter Technology (NYSE:CRS)

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