Catalyst Funds Management Pty Ltd Buys 2,400 Shares of Carpenter Technology Co. (NYSE:CRS)

Catalyst Funds Management Pty Ltd grew its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,600 shares of the basic materials company's stock after buying an additional 2,400 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Carpenter Technology were worth $611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRS. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology in the fourth quarter worth approximately $25,000. UMB Bank n.a. lifted its position in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 191 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology during the 3rd quarter valued at $65,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Carpenter Technology in the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc purchased a new position in shares of Carpenter Technology in the third quarter worth $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded down $4.41 during trading on Thursday, hitting $186.20. The company had a trading volume of 559,024 shares, compared to its average volume of 846,341. Carpenter Technology Co. has a 12 month low of $67.52 and a 12 month high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm has a market capitalization of $9.30 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The stock has a 50 day simple moving average of $194.95 and a 200 day simple moving average of $176.49.

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Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. As a group, analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology's payout ratio is 15.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRS shares. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.17.

Carpenter Technology Company 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.