4,198 Shares in Carpenter Technology Corporation $CRS Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC acquired 4,198 shares of Carpenter Technology during the second quarter, valued at approximately $2.6 million. Institutional investors collectively own 92.03% of the company.
• Carpenter Technology reported quarterly EPS of $3.23, exceeding expectations of $3.09, while revenue rose 12.6% year over year to $679.7 million. Analysts project full-year EPS of about $13.09.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $577.25, although insiders—including the CEO—have sold more than 109,000 shares worth approximately $53.1 million over the past 90 days.

Hsbc Holdings PLC purchased a new position in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,198 shares of the basic materials company's stock, valued at approximately $2,565,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology in the second quarter worth approximately $28,000. Keating Financial Advisory Services Inc. bought a new stake in Carpenter Technology during the 2nd quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Carpenter Technology during the 1st quarter valued at $30,000. SJS Investment Consulting Inc. boosted its position in Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company's stock valued at $32,000 after buying an additional 36 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Carpenter Technology during the 2nd quarter valued at $43,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology News Summary

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2027 EPS to $12.80 from $12.75, FY2028 EPS to $15.08 from $14.99, and FY2029 EPS to $18.44 from $18.31. Quarterly estimates for 2027 and 2028 were also increased by $0.01 to $0.03 per share, signaling improving expectations for Carpenter Technology’s future profitability.
• Positive Sentiment: Zacks Research maintained a “Strong-Buy” rating on CRS. Its forecasts imply continued earnings growth beyond the current fiscal year, with FY2029 EPS projected well above the current-year consensus estimate of $13.08.
• Neutral Sentiment: The revisions were incremental rather than major changes to the earnings outlook. With CRS trading at a relatively elevated forward valuation after a strong 12-month advance, investors may be taking profits or demanding stronger near-term catalysts before bidding the shares higher.

Carpenter Technology Stock Up 0.2%

Shares of Carpenter Technology stock opened at $477.32 on Monday. 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 Corporation has a 12-month low of $228.00 and a 12-month high of $625.98. The company has a market cap of $23.66 billion, a P/E ratio of 45.37, a PEG ratio of 1.71 and a beta of 1.25. The company's fifty day simple moving average is $557.70 and its two-hundred day simple moving average is $474.39.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. The firm had revenue of $679.70 million during the quarter, compared to analysts' expectations of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $2.21 EPS. Research analysts anticipate that Carpenter Technology Corporation will post 13.09 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology's dividend payout ratio (DPR) is 7.60%.

Analyst Ratings Changes

A number of research firms have issued reports on CRS. BTIG Research boosted their price objective on shares of Carpenter Technology from $450.00 to $620.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Zacks Research raised Carpenter Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Weiss Ratings downgraded Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Wall Street Zen lowered Carpenter Technology from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, KeyCorp dropped their price objective on Carpenter Technology from $644.00 to $608.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Carpenter Technology presently has a consensus rating of "Buy" and an average target price of $577.25.

Insider Activity at Carpenter Technology

In other news, CEO Tony R. Thene sold 57,456 shares of the stock in a transaction that occurred 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramin Younessi sold 438 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 1,953 shares of the company's stock, valued at approximately $963,121.95. The trade was a 18.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 109,721 shares of company stock worth $53,091,824. Insiders own 2.90% of the company's stock.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source