Carpenter Technology Corporation $CRS Shares Newly Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,677 shares of the basic materials company’s stock, valued at approximately $2,596,000.

Several other hedge funds and other institutional investors have also modified their holdings of CRS. BlackRock Inc. acquired a new stake in Carpenter Technology during the second quarter worth about $3,834,623,000. Jennison Associates LLC bought a new position in Carpenter Technology in the first quarter worth about $317,411,000. SurgoCap Partners LP bought a new position in Carpenter Technology in the second quarter worth about $423,444,000. Bank of America Corp DE boosted its stake in Carpenter Technology by 101.9% in the first quarter. Bank of America Corp DE now owns 520,392 shares of the basic materials company’s stock valued at $205,113,000 after acquiring an additional 262,701 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Carpenter Technology by 82.2% in the second quarter. Wellington Management Group LLP now owns 506,167 shares of the basic materials company’s stock valued at $312,224,000 after acquiring an additional 228,290 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen cut Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Zacks Research downgraded Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. KeyCorp reduced their price objective on Carpenter Technology from $608.00 to $465.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. TD Cowen reduced their price objective on Carpenter Technology from $650.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, Wells Fargo & Company lowered their price objective 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. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $519.29.

Carpenter Technology Stock Down 20.6%

Carpenter Technology stock opened at $292.34 on Friday. The company has a 50-day simple moving average of $428.25 and a 200-day simple moving average of $480.10. The firm has a market capitalization of $14.49 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. Carpenter Technology Corporation has a one year low of $262.25 and a one year high of $625.98.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.21. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%. The company had revenue of $634.80 million for the quarter, compared to analysts’ expectations of $830.85 million. During the same quarter in the previous year, the company posted $2.43 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that Carpenter Technology Corporation will post 13.30 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, October 20th. Carpenter Technology’s payout ratio is 7.60%.

Key Stories Impacting Carpenter Technology

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

• Positive Sentiment: EPS beat expectations: Carpenter reported fiscal Q1 2027 adjusted earnings of $3.25 per share, above consensus estimates ranging from $2.97 to $3.04 and up from $2.43 a year earlier. Carpenter Technology Q1 Earnings Beat Estimates
• Positive Sentiment: Profitability improved: The company delivered record first-quarter operating income, up 28% year over year. Productivity gains, improved product mix and pricing actions helped lift the Specialty Alloys Operations segment’s adjusted operating margin to 37.7%. Carpenter Technology Reports First Quarter Fiscal Year 2027 Results
• Positive Sentiment: Aerospace demand is strengthening: Management cited accelerating commercial aerospace supply-chain demand and increased bookings, supporting the company’s longer-term growth outlook. Carpenter also maintained its fiscal 2027 outlook. Carpenter Technology Earnings Up in Q1
• Negative Sentiment: Revenue missed by a wide margin: Quarterly revenue was $634.8 million, up 8.8% year over year but well below the approximately $830.9 million analyst consensus cited in the earnings coverage. The sales miss overshadowed the EPS beat. Why Carpenter Technology Stock Crashed After Earnings
• Negative Sentiment: Valuation heightened the reaction: Investors appear to have viewed the revenue miss as especially concerning given CRS’s elevated valuation, making the stock vulnerable even though earnings growth, margins and the outlook remained positive.

Insider Transactions at Carpenter Technology

In other news, CEO Tony Thene sold 57,456 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the transaction, the chief executive officer owned 439,631 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, Director Ramin Younessi sold 438 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the transaction, the director directly owned 1,953 shares in the company, valued at $963,121.95. This trade represents a 18.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 112,996 shares of company stock valued at $54,644,436. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Company Profile

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.