Bank of New York Mellon Corp Takes Position in Carpenter Technology Corporation $CRS

Bank of New York Mellon Corp acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 374,898 shares of the basic materials company's stock, valued at approximately $231,252,000. Bank of New York Mellon Corp owned about 0.75% of Carpenter Technology at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its stake in Carpenter Technology by 334.3% during the 4th quarter. Covestor Ltd now owns 3,492 shares of the basic materials company's stock worth $1,099,000 after acquiring an additional 2,688 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in Carpenter Technology in the second quarter valued at $3,095,000. Peregrine Asset Advisers Inc. acquired a new position in Carpenter Technology in the fourth quarter valued at $4,062,000. SteelPeak Wealth LLC acquired a new position in Carpenter Technology in the first quarter valued at $2,593,000. Finally, Brookstone Capital Management purchased a new position in shares of Carpenter Technology during the first quarter worth about $2,876,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Stock Up 1.2%

Shares of Carpenter Technology stock opened at $494.98 on Friday. The company has a market cap of $24.53 billion, a P/E ratio of 47.05, a PEG ratio of 1.77 and a beta of 1.25. 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 $228.00 and a one year high of $625.98. The firm has a fifty day moving average of $566.88 and a two-hundred day moving average of $468.62.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.14. The business had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. On average, analysts forecast that Carpenter Technology Corporation will post 13.08 earnings per share for the current year.

Carpenter Technology Announces Dividend

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

Analyst Upgrades and Downgrades

CRS has been the subject of a number of research analyst reports. BTIG Research upped their target price on Carpenter Technology from $450.00 to $620.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Weiss Ratings cut Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating for the company in a report on Friday, July 31st. KeyCorp lowered their target price on shares of Carpenter Technology from $644.00 to $608.00 and set an "overweight" rating on the stock in a research report on Monday, August 3rd. Finally, TD Cowen lifted their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a "buy" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $577.25.

Key Headlines Impacting Carpenter Technology

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

• Positive Sentiment: Zacks raised its FY2027 EPS forecast to $12.75 from $12.12 and its FY2028 forecast to $14.99 from $14.49, signaling stronger anticipated profit growth. The firm also increased estimates for every listed quarter from Q1 2027 through Q4 2028. Carpenter Technology stock information
• Positive Sentiment: Individual quarterly revisions included Q1 2027 EPS rising to $2.89 from $2.83, Q2 2027 to $2.96 from $2.85, Q3 2027 to $3.33 from $3.19, and Q4 2027 to $3.57 from $3.25. Estimates for Q1 through Q4 2028 were also increased, with Q4 2028 moving to $4.14 from $4.00.
• Positive Sentiment: Zacks Research maintains a “Strong-Buy” rating on CRS, reinforcing the bullish interpretation of the revisions and suggesting confidence in Carpenter Technology’s longer-term earnings outlook.
• Neutral Sentiment: The revisions primarily affect fiscal 2027 and 2028, so they are forward-looking rather than a new report on current-quarter results. The current-year consensus EPS forecast remains $12.92.
• Neutral Sentiment: CRS remains valued at a relatively elevated trailing P/E of about 47, meaning continued gains may depend on the company delivering the projected earnings growth. The stock is also below its 50-day moving average but above its 200-day average.

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.

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