Carpenter Technology Co. (NYSE:CRS - Get Free Report) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 2,680,000 shares, a growth of 17.0% from the November 15th total of 2,290,000 shares. Based on an average daily trading volume, of 594,200 shares, the days-to-cover ratio is currently 4.5 days. Currently, 5.7% of the shares of the stock are short sold.
Carpenter Technology stock traded up $0.61 during midday trading on Monday, reaching $174.70. The stock had a trading volume of 206,912 shares, compared to its average volume of 593,324. Carpenter Technology has a twelve month low of $58.87 and a twelve month high of $198.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 0.90 and a beta of 1.52. The firm's fifty day simple moving average is $173.18 and its two-hundred day simple moving average is $144.37.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities analysts anticipate that Carpenter Technology will post 6.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology's dividend payout ratio (DPR) is 17.82%.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock valued at $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after buying an additional 17,497 shares in the last quarter. American Century Companies Inc. increased its holdings in Carpenter Technology by 129.5% in the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock worth $93,044,000 after buying an additional 479,047 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock valued at $122,794,000 after acquiring an additional 103,559 shares in the last quarter. Finally, Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology in the second quarter valued at approximately $73,850,000. Institutional investors and hedge funds own 92.03% of the company's stock.
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. started 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 on the stock. Benchmark reaffirmed a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $153.00.
Check Out Our Latest Research Report on 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.
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