Harvest Fund Management Co. Ltd increased its stake in Carpenter Technology Co. (NYSE:CRS – Free Report) by 12,878.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,321 shares of the basic materials company’s stock after purchasing an additional 5,280 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Carpenter Technology were worth $850,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of CRS. CANADA LIFE ASSURANCE Co raised its holdings in shares of Carpenter Technology by 17.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,698 shares of the basic materials company’s stock worth $3,551,000 after purchasing an additional 7,562 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Carpenter Technology by 26.8% in the 1st quarter. Advisors Asset Management Inc. now owns 21,015 shares of the basic materials company’s stock worth $1,501,000 after purchasing an additional 4,438 shares during the period. Comerica Bank raised its holdings in shares of Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after purchasing an additional 42,449 shares during the period. Bright Futures Wealth Management LLC. bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $202,000. Finally, GAMMA Investing LLC raised its holdings in shares of Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 136 shares during the period. Institutional investors own 92.03% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CRS shares. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a report on Friday. They set an “overweight” rating and a $220.00 target price on the stock. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. Finally, BTIG Research boosted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $153.00.
Carpenter Technology Trading Up 2.2 %
Carpenter Technology stock opened at $195.23 on Tuesday. The stock has a market cap of $9.73 billion, a P/E ratio of 43.48, a PEG ratio of 0.97 and a beta of 1.46. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $197.68. The firm’s fifty day moving average price is $163.94 and its 200-day moving average price is $136.46. 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 released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities research analysts forecast that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.
Carpenter Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. 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 payout ratio is currently 17.82%.
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.
Featured Stories
- Five stocks we like better than Carpenter Technology
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Abacus Life’s CEO on Cracking the Code of Longevity Returns
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Elon Musk and Trump Push for Self-Driving Cars: 3 Stocks to Gain
- Stock Dividend Cuts Happen Are You Ready?
- Discover the 3 Best Performing Stocks That Went Public in 2024
Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Co. (NYSE:CRS – Free Report).
Receive News & Ratings for Carpenter Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology and related companies with MarketBeat.com's FREE daily email newsletter.