Carpenter Technology Co. (NYSE:CRS) Short Interest Update

Carpenter Technology Co. (NYSE:CRS) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,080,000 shares, a decline of 10.0% from the March 15th total of 1,200,000 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 487,800 shares, the short-interest ratio is presently 2.2 days.

Carpenter Technology Stock Performance

CRS stock traded up $0.24 during trading on Wednesday, hitting $77.76. 479,284 shares of the company’s stock traded hands, compared to its average volume of 479,986. 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 52 week low of $44.40 and a 52 week high of $82.16. The stock has a fifty day moving average price of $68.52 and a two-hundred day moving average price of $67.35. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 27.06 and a beta of 1.56.

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

Carpenter Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.80 annualized dividend and a yield of 1.03%. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio is presently 27.68%.

Institutional Investors Weigh In On Carpenter Technology

Several institutional investors have recently bought and sold shares of the stock. Range Financial Group LLC lifted its holdings in Carpenter Technology by 1.7% in the third quarter. Range Financial Group LLC now owns 10,469 shares of the basic materials company’s stock worth $704,000 after purchasing an additional 177 shares during the period. American International Group Inc. lifted its holdings in Carpenter Technology by 0.7% in the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after acquiring an additional 188 shares during the last quarter. Arizona State Retirement System lifted its holdings in Carpenter Technology by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 13,823 shares of the basic materials company’s stock valued at $929,000 after acquiring an additional 198 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Carpenter Technology by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,508 shares of the basic materials company’s stock valued at $1,095,000 after acquiring an additional 212 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Carpenter Technology by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock valued at $825,000 after acquiring an additional 215 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.