Carpenter Technology said on April 20, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 per year). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of May 1, 2023 to qualify for the dividend. Shareholders of record on May 2, 2023 will receive payment on June 1, 2023.
At the current share price of $46.87/share, the stock’s yield is 1.71%. Looking back over five years and taking a sample every week, the average dividend yield was 2.23%, the lowest was 1.21%, and the highest was 4.85%. The standard deviation of the results is 0.78 (n=235).
The current dividend yield is 0.67 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -6.93. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as a dividend. A payout ratio greater than one means the company is dipping into savings to maintain its dividend – not a healthy situation. Companies with low growth prospects are expected to pay most of their income in dividends, which usually means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings to invest in growth prospects, which translates into a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is Fund Sentiment?
There are 499 funds or institutions reporting positions in Carpenter Technology. This is an increase of 17 owner(s) or 3.53% over the previous quarter. Average portfolio weight of all funds dedicated to CRS is 0.16%, an increase of 5.18%. Total shares owned by institutions decreased over the past three months by 0.88% to 52,841K shares. The put/call ratio of CRS is 0.56, which shows a bullish outlook.
Analyst Price Forecast Suggests 24.05% Upside
As of April 6, 2023, the average one-year price target for Carpenter Technology is $58.14. Forecasts range from a low of $54.54 to a high of $63.00. The average price target represents an upside of 24.05% from the last reported closing price of $46.87.
Check out our leaderboard of the companies with the biggest price targets.
The expected annual revenue for Carpenter Technology is $2,260MM, an increase of 4.89%. Projected annual non-GAAP EPS is $1.27.
What Are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF has 3,590K shares representing 7.40% ownership of the company. In its first filing, the company reported having 3,537K shares, representing an increase at 1.47%. The strong increased its portfolio allocation to CRS by 9.53% last quarter.
T. Rowe Price Investment Management owns 1,832K shares which represents 3.78% ownership of the company. In the first filing, the company reported having 2,152K shares, representing a reduction at 17.50%. The strong decreased its portfolio allocation to CRS by 3.03% last quarter.
Frontier Capital Management Co holds 1,761K shares which represent 3.63% of the company’s ownership. In its first filing, the company reported having 1,599K shares, representing an increase at 9.23%. The strong increased its portfolio allocation to CRS by 21.40% last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has 1,480K shares representing 3.05% ownership of the company. In its first filing, the company reported having 1,475K shares, representing an increase at 0.35%. The strong increased its portfolio allocation to CRS by 9.94% last quarter.
Thrivent Financial For Lutherans owns 1,425K shares representing 2.94% ownership in the company. In the first filing, the company reported having 1,558K shares, representing a reduction at 9.32%. The strong decreased its portfolio allocation to CRS at 99.90% last quarter.
Captain of Background Information Technology
(This description is provided by the company.)
Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial and consumer electronics markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys specifically engineered for additive processes. manufacturing (AM) and soft magnetics applications. Carpenter Technology has expanded its AM capabilities to provide a complete ‘end-to-end’ solution to facilitate the transformation of materials and facilitate the manufacture of parts.
This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.