Bornite Capital Management LP Lowers Position in Carpenter Technology Corporation $CRS

Key Points

• Bornite Capital Management cut its stake in Carpenter Technology by 19.6% in the fourth quarter, but it still held 208,200 shares valued at about $65.6 million, making CRS its fifth-largest holding.
• Carpenter Technology reported quarterly EPS of $2.77, beating analyst expectations, though revenue came in below estimates at $655.6 million despite rising 11.6% year over year.
• Analysts remain generally positive, with several raising price targets and the consensus rating at Moderate Buy; however, the stock is also being described as stretched on valuation after a strong run.

Bornite Capital Management LP trimmed its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,200 shares of the basic materials company's stock after selling 50,700 shares during the quarter. Carpenter Technology comprises about 6.4% of Bornite Capital Management LP's investment portfolio, making the stock its 5th largest holding. Bornite Capital Management LP owned approximately 0.42% of Carpenter Technology worth $65,550,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ion Asset Management Ltd. bought a new position in Carpenter Technology during the third quarter worth about $4,027,000. American Century Companies Inc. increased its position in Carpenter Technology by 4.0% during the third quarter. American Century Companies Inc. now owns 467,702 shares of the basic materials company's stock worth $114,841,000 after acquiring an additional 18,201 shares during the period. Kinetic Partners Management LP increased its position in Carpenter Technology by 15.5% during the third quarter. Kinetic Partners Management LP now owns 386,500 shares of the basic materials company's stock worth $94,901,000 after acquiring an additional 51,800 shares during the period. Bright Futures Wealth Management LLC. bought a new position in Carpenter Technology during the third quarter worth about $674,000. Finally, Citigroup Inc. increased its position in Carpenter Technology by 64.3% during the third quarter. Citigroup Inc. now owns 35,219 shares of the basic materials company's stock worth $8,648,000 after acquiring an additional 13,779 shares during the period. 92.03% of the stock is owned by institutional investors.

More Carpenter Technology News

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

• Positive Sentiment: Zacks Research repeatedly nudged up its earnings outlook for Carpenter Technology, raising estimates for FY2026, FY2027, FY2028 and several quarterly periods. Higher forward EPS forecasts can support the stock by reinforcing the view that earnings momentum remains intact. Carpenter Technology contract wins lift pricing power but stretch valuation
• Neutral Sentiment: The revisions were modest, mostly small one-cent increases, suggesting analysts see steady but not dramatic improvement rather than a major near-term catalyst.
• Negative Sentiment: Despite the upbeat earnings estimates, the company is being described as stretched on valuation, which can temper enthusiasm and make investors cautious after the stock’s strong run.

Insider Buying and Selling

In other 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 value of $317,895.00. Following the sale, the director directly 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 SEC, which is accessible through this hyperlink. Also, VP Marshall D. Akins sold 11,815 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares in the company, valued at approximately $8,096,307.84. The trade was a 39.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company's stock.

Carpenter Technology Trading Down 0.4%

Shares of Carpenter Technology stock opened at $560.25 on Friday. The company has a market capitalization of $27.84 billion, a price-to-earnings ratio of 58.97, a PEG ratio of 1.93 and a beta of 1.25. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. Carpenter Technology Corporation has a 12-month low of $228.00 and a 12-month high of $574.52. The firm's 50-day moving average price is $446.24 and its two-hundred day moving average price is $383.91.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $797.00 million. During the same period in the prior year, the company posted $1.88 earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts forecast that Carpenter Technology Corporation will post 10.56 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, April 28th. Carpenter Technology's dividend payout ratio (DPR) is presently 8.42%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Susquehanna raised their price target on shares of Carpenter Technology from $470.00 to $495.00 and gave the stock a "positive" rating in a research report on Thursday, April 30th. KeyCorp increased their price objective on shares of Carpenter Technology from $453.00 to $459.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. BTIG Research increased their price objective on shares of Carpenter Technology from $375.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $458.63.

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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