6,677 Shares in Carpenter Technology Corporation $CRS Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management acquired 6,677 Carpenter Technology shares worth approximately $2.6 million in the third quarter. Institutional investors collectively own 92.03% of CRS.
• Carpenter Technology’s fiscal Q1 2027 adjusted EPS of $3.25 beat estimates and rose from $2.43 year over year, while operating income reached a record level and aerospace demand strengthened. However, revenue of $634.8 million fell well short of the roughly $830.9 million consensus estimate.
• CRS shares opened at $292.34, down 20.6%, following the earnings report. Analysts maintain a “Moderate Buy” consensus, with an average price target of $519.29, although several firms recently lowered their targets.

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,677 shares of the basic materials company's stock, valued at approximately $2,596,000.

A number of other hedge funds also recently made changes to their positions in CRS. Optivise Advisory Services LLC raised its stake in shares of Carpenter Technology by 20.3% during the third quarter. Optivise Advisory Services LLC now owns 848 shares of the basic materials company's stock valued at $330,000 after purchasing an additional 143 shares during the period. Perryman Financial Advisory Inc. AD boosted its stake in shares of Carpenter Technology by 57.0% in the third quarter. Perryman Financial Advisory Inc. AD now owns 1,190 shares of the basic materials company's stock valued at $463,000 after purchasing an additional 432 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Carpenter Technology in the third quarter valued at $12,657,000. Mather Group LLC. boosted its stake in shares of Carpenter Technology by 19.5% in the third quarter. Mather Group LLC. now owns 2,441 shares of the basic materials company's stock valued at $949,000 after purchasing an additional 398 shares during the period. Finally, Mezzasalma Advisors LLC grew its holdings in Carpenter Technology by 0.3% during the 3rd quarter. Mezzasalma Advisors LLC now owns 14,518 shares of the basic materials company's stock valued at $5,645,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

More Carpenter Technology News

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 Buying and Selling

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $493.15, for a total transaction of $215,999.70. Following the sale, the director owned 1,953 shares in the company, valued at $963,121.95. This represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer directly owned 439,631 shares in the company, valued at approximately $212,737,440.90. This represents a 11.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 112,996 shares of company stock worth $54,644,436. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CRS. Wall Street Zen downgraded shares of Carpenter Technology from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. BTIG Research raised their target price on Carpenter Technology from $450.00 to $620.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Wells Fargo & Company dropped their target price on Carpenter Technology from $540.00 to $430.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 30th. JPMorgan Chase & Co. dropped their target price on Carpenter Technology from $700.00 to $520.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 14th. Finally, Susquehanna cut their price target on Carpenter Technology from $680.00 to $600.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $519.29.

Carpenter Technology Stock Down 20.6%

Shares of NYSE:CRS opened at $292.34 on Friday. The firm has a market cap of $14.49 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The company has a fifty day simple moving average of $428.25 and a 200 day simple moving average of $480.10. 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 $262.25 and a 12-month high of $625.98.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.21. The company had revenue of $634.80 million during the quarter, compared to analyst estimates of $830.85 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. On average, equities research analysts anticipate that Carpenter Technology Corporation will post 13.30 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Tuesday, October 20th will be paid a $0.20 dividend. 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 dividend payout ratio (DPR) is 7.60%.

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.

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