Bank of New York Mellon Corp Sells 21,119 Shares of Carpenter Technology Corporation $CRS

Key Points

• Bank of New York Mellon trimmed its Carpenter Technology stake by 5.0% in Q4, selling 21,119 shares and still holding 404,132 shares worth about $127.2 million.
• Insider selling was notable, with Director Anastasios John Hart and VP Marshall D. Akins both reducing their holdings through recent stock sales.
• Wall Street remains constructive on Carpenter Technology: analysts have lifted earnings estimates and several firms raised price targets, while the company also beat quarterly EPS expectations and paid a quarterly dividend.

Bank of New York Mellon Corp lowered its stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 404,132 shares of the basic materials company's stock after selling 21,119 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Carpenter Technology worth $127,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Carpenter Technology in the second quarter worth about $28,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Carpenter Technology by 57.3% in the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Carpenter Technology by 164.7% in the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company's stock worth $42,000 after acquiring an additional 84 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Carpenter Technology in the second quarter worth about $43,000. Finally, Rakuten Securities Inc. bought a new position in shares of Carpenter Technology in the second quarter worth about $45,000. Institutional investors own 92.03% of the company's stock.

Key Stories Impacting Carpenter Technology

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

• Positive Sentiment: Zacks Research increased its earnings outlook for Carpenter Technology across several future periods, including FY2026, FY2027, and FY2028, reflecting a more optimistic profit forecast. Article Title
• Positive Sentiment: The analyst team also nudged near-term quarterly EPS estimates higher for Q4 2026, Q1 2027, Q2 2027, Q3 2027, and Q4 2027, reinforcing the view that earnings momentum remains intact.
• Positive Sentiment: The stock has been strong recently, and the upgraded earnings estimates help support investor confidence in Carpenter Technology’s valuation and growth story.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, Director Anastasios John Hart sold 750 shares of the firm's 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 transaction, the director owned 750 shares in the company, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marshall D. Akins sold 11,815 shares of the firm'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 sale, the vice president directly owned 18,344 shares of the company's stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by company insiders.

Carpenter Technology Stock Down 1.9%

Carpenter Technology stock opened at $483.26 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.08 and a current ratio of 3.73. Carpenter Technology Corporation has a 52-week low of $228.00 and a 52-week high of $500.16. The firm has a 50 day moving average price of $431.54 and a two-hundred day moving average price of $376.37. The firm has a market cap of $24.01 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 1.79 and a beta of 1.25.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm had revenue of $655.60 million during the quarter, compared to analyst estimates of $797.00 million. During the same quarter last year, the business earned $1.88 EPS. The company's revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Carpenter Technology Corporation will post 10.55 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 28th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology's dividend payout ratio (DPR) is presently 8.42%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp raised their price objective on shares of Carpenter Technology from $453.00 to $459.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Wells Fargo & Company raised their price objective on shares of Carpenter Technology from $400.00 to $425.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Susquehanna raised their price objective on shares of Carpenter Technology from $470.00 to $495.00 and gave the company a "positive" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $465.00 to $470.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, TD Cowen raised their price objective on shares of Carpenter Technology from $450.00 to $470.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and a consensus target price of $441.00.

About Carpenter Technology

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.

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