Harvest Fund Management Co. Ltd Grows Holdings in Carpenter Technology Co. (NYSE:CRS)

Harvest Fund Management Co. Ltd raised its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 59.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CRS. Victory Capital Management Inc. grew its position in Carpenter Technology by 54.1% during the third quarter. Victory Capital Management Inc. now owns 23,068 shares of the basic materials company's stock valued at $3,681,000 after buying an additional 8,095 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Carpenter Technology in the third quarter valued at about $571,000. KBC Group NV grew its position in shares of Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock valued at $216,000 after acquiring an additional 161 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $293,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Carpenter Technology in the 3rd quarter worth approximately $230,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Carpenter Technology Price Performance

Shares of CRS stock traded up $11.87 during trading hours on Monday, reaching $195.68. The stock had a trading volume of 645,014 shares, compared to its average volume of 672,867. The stock's fifty day simple moving average is $194.95 and its 200 day simple moving average is $177.42. The firm has a market capitalization of $9.77 billion, a PE ratio of 36.92, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 12 month low of $67.52 and a 12 month high of $213.66. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced 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 was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology's dividend payout ratio is currently 15.09%.

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.