Carpenter Technology Stock To Go Ex-dividend Tomorrow (CRS)

NEW YORK ( TheStreet) -- The ex-dividend date for Carpenter Technology Corporation (NYSE: CRS) is tomorrow, January 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $57.77 as of 9:35 a.m. ET, the dividend yield is 1.3%.

The average volume for Carpenter Technology has been 397,200 shares per day over the past 30 days. Carpenter Technology has a market cap of $2.48 billion and is part of the industrial goods sector and industrial industry. Shares are up 10% year to date as of the close of trading on Wednesday.

Carpenter Technology Corporation engages in the manufacturing, fabrication, and distribution of specialty metals. The company's Advanced Metals Operations segment offers metal alloys, stainless steels, and titanium in the form of small bars and rods, wire, narrow strip, and powder. The company has a P/E ratio of 28.8, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Carpenter Technology as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Carpenter Technology Ratings Report.

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