Carpenter Technology Corporation Buyback
OLI recorded this information on 10/23/2014
Company:
Carpenter Technology Corporation
Buyback:
CRS buyback
$Amount Authorized:
$500,000,000
Buyback Details:
Carpenter Technology Corporation (NYSE:CRS) today announced that its Board of Directors has authorized a share repurchase program of up to $500 million of its outstanding common stock over the next two years. The shares may be repurchased in the open market or in privately negotiated transactions.
Carpenter Technology is engaged in the manufacturing, fabrication and distribution of metals. Co. provides alloys, including titanium, nickel, and cobalt, as well as alloys for additive manufacturing processes and soft magnetics applications. Co. is organized in two reportable business segments: Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). The SAO segment is comprised of Co.'s alloy and stainless steel manufacturing operations. The PEP segment is comprised of Co.'s differentiated operations. This segment includes the Dynamet titanium business, the Carpenter Additive business and the Latrobe and Mexico distribution businesses.
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Strong Buy (3.50 out of 4) 59th percentile
(ranked higher than approx. 59% of all stocks covered)
Analysts' Target Price: CRS Stock Forecast Based on Zacks ABR data; powered by Xignite |