Fintel reviews that on April 24, 2023, TD Cowen maintained protection of Carpenter Technology (NYSE:CRS) with a Outperform advice.
Analyst Price Forecast Suggests 19.61% Upside
As of April 24, 2023, the common one-year price target for Carpenter Technology is 58.14. The forecasts vary from a low of 54.54 to a excessive of $63.00. The common value goal represents a rise of 19.61% from its newest reported closing value of 48.61.
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The projected annual income for Carpenter Technology is 2,260MM, a rise of 4.89%. The projected annual non-GAAP EPS is 1.27.
Carpenter Technology Declares $0.20 Dividend
On April 20, 2023 the corporate declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of file as of May 2, 2023 will obtain the cost on June 1, 2023. Previously, the corporate paid $0.20 per share.
At the present share value of $48.61 / share, the stock’s dividend yield is 1.65%.
Looking again 5 years and taking a pattern each week, the common dividend yield has been 2.23%, the bottom has been 1.21%, and the best has been 4.85%. The customary deviation of yields is 0.78 (n=235).
The present dividend yield is 0.75 customary deviations under the historic common.
Additionally, the corporate’s dividend payout ratio is -6.93. The payout ratio tells us how a lot of an organization’s earnings is paid out in dividends. A payout ratio of 1 (1.0) means 100% of the corporate’s earnings is paid in a dividend. A payout ratio better than one means the corporate is dipping into financial savings with the intention to preserve its dividend – not a wholesome state of affairs. Companies with few progress prospects are anticipated to pay out most of their earnings in dividends, which usually means a payout ratio between 0.5 and 1.0. Companies with good progress prospects are anticipated to retain some earnings with the intention to put money into these progress prospects, which interprets to a payout ratio of zero to 0.5.
The firm has not elevated its dividend within the final three years.
What is the Fund Sentiment?
There are 499 funds or institutions reporting positions in Carpenter Technology. This is a rise of 15 proprietor(s) or 3.10% within the final quarter. Average portfolio weight of all funds devoted to CRS is 0.16%, a rise of 5.60%. Total shares owned by establishments decreased within the final three months by 0.79% to 52,825K shares. The put/call ratio of CRS is 0.41, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 3,590K shares representing 7.40% possession of the corporate. In it is prior submitting, the agency reported proudly owning 3,537K shares, representing a rise of 1.47%. The agency elevated its portfolio allocation in CRS by 9.53% over the past quarter.
T. Rowe Price Investment Management holds 1,832K shares representing 3.78% possession of the corporate. In it is prior submitting, the agency reported proudly owning 2,152K shares, representing a lower of 17.50%. The agency decreased its portfolio allocation in CRS by 3.03% over the past quarter.
Frontier Capital Management Co holds 1,761K shares representing 3.63% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,599K shares, representing a rise of 9.23%. The agency elevated its portfolio allocation in CRS by 21.40% over the past quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,480K shares representing 3.05% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,475K shares, representing a rise of 0.35%. The agency elevated its portfolio allocation in CRS by 9.94% over the past quarter.
Thrivent Financial For Lutherans holds 1,425K shares representing 2.94% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,558K shares, representing a lower of 9.32%. The agency decreased its portfolio allocation in CRS by 99.90% over the past quarter.
Carpenter Technology Background Information
(This description is supplied by the corporate.)
Carpenter Technology Corporation is a acknowledged chief in high-performance specialty alloy-based supplies and course of options for important functions within the aerospace, protection, medical, transportation, power, industrial and client electronics markets. Founded in 1889, Carpenter Technology has advanced to turn into a pioneer in premium specialty alloys, together with titanium, nickel, and cobalt, in addition to alloys particularly engineered for additive manufacturing (AM) processes and delicate magnetics functions. Carpenter Technology has expanded its AM capabilities to supply an entire ‘end-to-end’ answer to speed up supplies innovation and streamline elements manufacturing.
See all Carpenter Technology regulatory filings.
This story initially appeared on Fintel.
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