FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
PHILADELPHIA - Carpenter Technology Corporation (NYSE: CRS) has declared a quarterly cash dividend of $0.20 per share, representing a yield of 0.46%. The dividend is to be distributed on June 5, 2025, to shareholders who are on record as of April 22, 2025. According to InvestingPro, the company has maintained dividend payments for 55 consecutive years, demonstrating remarkable consistency in shareholder returns.
The company, founded in 1889, is known for its specialty alloy materials and process solutions. These are utilized in a variety of critical applications across several key industries, including aerospace and defense, medical, and others. Carpenter Technology has established itself as a leader in the production of high-performance specialty alloys, which include nickel, cobalt, and titanium. With a market capitalization of $8.3 billion and an impressive 127.8% return over the past year, the company's expertise extends to material process capabilities that address the evolving needs of their customers. InvestingPro data shows the company maintains strong financial health with a "GREAT" overall rating.
This latest dividend announcement continues Carpenter Technology's practice of returning value to its shareholders. The set dividend rate reflects the company's ongoing financial policies aimed at providing consistent shareholder returns. With analyst targets ranging from $200 to $300 per share and multiple additional insights available on InvestingPro, investors can access comprehensive analysis of Carpenter Technology's financial outlook and growth potential.
The information for this report is based on a press release statement from Carpenter Technology Corporation.
In other recent news, Carpenter Technology Corporation reported its second-quarter fiscal year 2025 earnings, revealing an earnings per share (EPS) of $1.66, which exceeded the forecast of $1.62. However, the company's revenue of $676.9 million fell short of the anticipated $724.42 million. Despite the revenue miss, operating income saw a significant 70% increase year-over-year, reaching $119 million. In related developments, Fitch Ratings upgraded Carpenter Technology's Issuer Default Rating to 'BB+' with a stable outlook, citing expectations of consistent EBITDA leverage and robust EBITDA margins. Additionally, Carpenter Technology announced the appointment of Julie A. Beck to its Board of Directors, expanding the board to 12 members. Beck brings over three decades of financial leadership experience from major manufacturing companies. The company also highlighted recent contracts with aerospace customers, contributing to its substantial backlog of approximately $2 billion, predominantly in aerospace and defense. These updates reflect Carpenter Technology's strategic positioning and ongoing efforts to enhance its leadership and operational efficiency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.