Carpenter Technology Co. (NYSE:CRS) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 12,878.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,321 shares of the basic materials company's stock after acquiring an additional 5,280 shares during the period. Harvest Fund Management Co. Ltd's holdings in Carpenter Technology were worth $850,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CRS. Kimelman & Baird LLC acquired a new position in Carpenter Technology in the second quarter valued at approximately $33,000. National Bank of Canada FI acquired a new position in Carpenter Technology during the second quarter worth $49,000. EverSource Wealth Advisors LLC lifted its stake in Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock worth $53,000 after purchasing an additional 178 shares in the last quarter. nVerses Capital LLC acquired a new position in Carpenter Technology during the third quarter worth $64,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology in the third quarter valued at $65,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a research note on Friday. They issued an "overweight" rating and a $220.00 price objective on the stock. BTIG Research increased their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Finally, Benchmark reissued a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has a consensus rating of "Moderate Buy" and a consensus target price of $153.00.

Carpenter Technology Stock Performance

Shares of CRS stock traded up $1.05 during mid-day trading on Tuesday, hitting $196.14. 536,265 shares of the stock were exchanged, compared to its average volume of 595,010. The stock's fifty day simple moving average is $163.94 and its two-hundred day simple moving average is $136.46. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 0.97 and a beta of 1.46. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $198.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter last year, the company posted $0.88 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that Carpenter Technology Co. will post 6.61 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology's dividend payout ratio (DPR) is 17.82%.

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.