Harvest Fund Management Co. Ltd Purchases 3,155 Shares of Carpenter Technology Co. (NYSE:CRS)

Harvest Fund Management Co. Ltd lifted its position in Carpenter Technology Co. (NYSE:CRS) by 59.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,476 shares of the basic materials company’s stock after purchasing an additional 3,155 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Carpenter Technology were worth $1,439,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CRS. Xponance Inc. raised its holdings in shares of Carpenter Technology by 120.6% during the 4th quarter. Xponance Inc. now owns 6,846 shares of the basic materials company’s stock valued at $1,162,000 after buying an additional 3,742 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Carpenter Technology by 223.3% during the 4th quarter. Intech Investment Management LLC now owns 65,510 shares of the basic materials company’s stock valued at $11,118,000 after buying an additional 45,249 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Carpenter Technology during the 4th quarter valued at about $756,000. Catalyst Funds Management Pty Ltd raised its holdings in shares of Carpenter Technology by 200.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 3,600 shares of the basic materials company’s stock valued at $611,000 after buying an additional 2,400 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Carpenter Technology by 1.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,880 shares of the basic materials company’s stock valued at $1,846,000 after buying an additional 160 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $190.93 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business’s 50 day simple moving average is $194.95 and its two-hundred day simple moving average is $176.49. The stock has a market capitalization of $9.54 billion, a P/E ratio of 36.02, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a one year low of $67.24 and a one year high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRS shares. BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.