Carpenter Technology (NYSE:CRS) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Carpenter Technology (NYSE:CRS) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently commented on CRS. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research report on Monday, August 31st. JPMorgan Chase & Co. lowered their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Susquehanna decreased their price objective on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Finally, Wells Fargo & Company lowered their target price on Carpenter Technology from $540.00 to $430.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and an average target price of $526.88.

Carpenter Technology Stock Down 0.1%

Shares of Carpenter Technology stock opened at $386.55 on Friday. The company has a fifty day moving average price of $461.66 and a 200 day moving average price of $480.89. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. Carpenter Technology has a twelve month low of $233.77 and a twelve month high of $625.98. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%. The company had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same period last year, the company posted $2.21 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Carpenter Technology will post 13.28 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Tuesday, October 20th will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 7.60%.

Insider Activity at Carpenter Technology

In other news, CEO Tony Thene sold 57,456 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the sale, the chief executive officer directly owned 439,631 shares of the company’s stock, valued at $212,737,440.90. This represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Karol sold 3,275 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $474.08, for a total value of $1,552,612.00. Following the sale, the director owned 177,000 shares of the company’s stock, valued at approximately $83,912,160. This represents a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 112,996 shares of company stock valued at $54,644,436. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

A number of institutional investors have recently modified their holdings of the company. GK Wealth Management LLC acquired a new position in Carpenter Technology in the third quarter worth about $99,000. CoreCap Advisors LLC boosted its holdings in Carpenter Technology by 49.0% in the third quarter. CoreCap Advisors LLC now owns 1,131 shares of the basic materials company’s stock valued at $440,000 after acquiring an additional 372 shares during the last quarter. Apella Capital LLC boosted its stake in shares of Carpenter Technology by 64.8% in the 3rd quarter. Apella Capital LLC now owns 2,391 shares of the basic materials company’s stock valued at $935,000 after purchasing an additional 940 shares during the last quarter. Congress Asset Management Co. grew its holdings in Carpenter Technology by 1.9% during the 3rd quarter. Congress Asset Management Co. now owns 82,280 shares of the basic materials company’s stock worth $31,992,000 after acquiring an additional 1,501 shares during the period. Finally, Bright Rock Capital Management LLC bought a new stake in Carpenter Technology in the third quarter valued at about $1,750,000. Institutional investors own 92.03% of the company’s stock.

Key Headlines Impacting Carpenter Technology

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

• Positive Sentiment: Zacks upgraded CRS to a Buy: The upgrade reflects growing optimism about Carpenter Technology’s earnings prospects and could support the stock if improving fundamentals materialize. What Makes Carpenter CRS a New Buy Stock
• Positive Sentiment: TD Cowen maintained a Buy rating: Although it lowered its price target from $650 to $500, the revised target still implies substantial upside from the recently cited share price, signaling continued confidence in CRS’s long-term prospects. TD Cowen price target update
• Neutral Sentiment: Quarterly dividend maintained: Carpenter Technology declared a $0.20-per-share dividend payable December 3, 2026, to shareholders of record October 20. The annualized payout is $0.80 per share, but the approximately 0.2% yield is unlikely to be a major stock catalyst. Carpenter Technology Declares Quarterly Cash Dividend
• Negative Sentiment: Additional analyst target cut: KeyBanc lowered its price target for CRS to $465, reinforcing concerns about near-term valuation or industry conditions despite the stock’s longer-term support from Buy ratings. KeyBanc cuts target for Carpenter Technology

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of specialty metals and engineered products for applications that require high performance, durability, and resistance to extreme conditions. Founded in 1889, the company produces stainless steels, nickel- and cobalt-based alloys, titanium alloys, and other specialty materials.

Its product offerings include specialty wire, rod, bar, strip, billet, and powder, as well as precision-engineered components and additive-manufacturing materials.