Jennison Associates LLC Acquires New Shares in Carpenter Technology Corporation $CRS

Jennison Associates LLC acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the first quarter, Holdings Channel.com reports. The fund acquired 805,306 shares of the basic materials company’s stock, valued at approximately $317,411,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Carpenter Technology by 10.1% during the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after buying an additional 192,533 shares during the period. Invesco Ltd. boosted its position in shares of Carpenter Technology by 18.8% in the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock valued at $652,241,000 after acquiring an additional 327,302 shares during the period. Egerton Capital UK LLP boosted its position in shares of Carpenter Technology by 13.0% in the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock valued at $488,950,000 after acquiring an additional 178,679 shares during the period. SurgoCap Partners LP grew its stake in Carpenter Technology by 29.5% during the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after acquiring an additional 272,896 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Carpenter Technology by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after acquiring an additional 78,588 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Buying and Selling

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of Carpenter Technology stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the sale, the director directly owned 750 shares in the company, valued at $317,895. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at approximately $8,096,307.84. This represents a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

More Carpenter Technology News

Here are the key news stories impacting Carpenter Technology this week:

• Positive Sentiment: Zacks Research upgraded Carpenter Technology from hold to strong-buy, signaling increased confidence in the company’s outlook. Zacks.com
• Positive Sentiment: The firm also nudged up earnings estimates across multiple periods, including Q1 2027 to $2.83 EPS, Q2 2027 to $2.85 EPS, Q4 2027 to $3.25 EPS, and FY2027 to $12.12 EPS, suggesting improving profit expectations.
• Positive Sentiment: Longer-term projections were also raised, with estimates for FY2028 EPS lifted to $14.49, reinforcing the view that earnings growth could remain strong. Tickerreport.com
• Neutral Sentiment: The consensus full-year earnings estimate remains at $10.57 per share, so the move appears driven more by analyst optimism than by a fresh company announcement.

Analyst Ratings Changes

CRS has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $470.00 to $705.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Susquehanna raised their price target on shares of Carpenter Technology from $495.00 to $680.00 and gave the company a “positive” rating in a report on Thursday, July 9th. Zacks Research upgraded shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. BTIG Research upped their price target on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $556.75.

Carpenter Technology Stock Performance

Shares of CRS opened at $556.52 on Friday. The company has a market cap of $27.65 billion, a PE ratio of 58.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $525.05 and a 200-day moving average price of $430.40. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $625.98.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.Carpenter Technology’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, equities analysts forecast that Carpenter Technology Corporation will post 10.58 earnings per share for the current fiscal year.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.