Harvest Fund Management Co. Ltd Boosts Position in Carpenter Technology Co. (NYSE:CRS)

Harvest Fund Management Co. Ltd grew its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 59.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,476 shares of the basic materials company’s stock after acquiring 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.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in shares of Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after purchasing an additional 13,815 shares in the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Carpenter Technology during the third quarter valued at approximately $25,262,000. Natixis Advisors LLC boosted its position in shares of Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Manuka Financial LLC bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $368,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $190.93 on Thursday. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a one year low of $67.24 and a one year high of $213.66. The company’s 50-day moving average is $194.95 and its 200 day moving average is $176.49.

Carpenter Technology (NYSE:CRS) last posted 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%. Sell-side analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal 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 dividend of $0.20 per share. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRS. JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.