Carpenter Technology Corporation $CRS Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc trimmed its Carpenter Technology stake by 3.9% in the fourth quarter, though institutional investors still own a large majority of the company at 92.03%.
• Carpenter Technology reported better-than-expected quarterly earnings of $2.77 per share, beating estimates, while revenue rose 11.6% year over year. Analysts currently expect the company to earn $10.54 per share for the full year.
• The company also announced a quarterly dividend of $0.20 per share, and several analysts remain bullish, with nine Buy ratings and an average target price of $441.00 despite the stock trading above that level.

Legal & General Group Plc decreased its position in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,116 shares of the basic materials company's stock after selling 3,308 shares during the period. Legal & General Group Plc owned 0.16% of Carpenter Technology worth $25,539,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology during the second quarter worth approximately $28,000. Armstrong Advisory Group Inc. increased its position in Carpenter Technology by 57.3% during the fourth quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock worth $37,000 after buying an additional 43 shares during the period. Spire Wealth Management increased its position in Carpenter Technology by 164.7% during the fourth quarter. Spire Wealth Management now owns 135 shares of the basic materials company's stock worth $42,000 after buying an additional 84 shares during the period. Headlands Technologies LLC acquired a new position in Carpenter Technology during the second quarter worth approximately $43,000. Finally, Rakuten Securities Inc. acquired a new position in Carpenter Technology during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $468.27 on Monday. The firm has a market capitalization of $23.27 billion, a P/E ratio of 49.29, a PEG ratio of 1.73 and a beta of 1.25. The stock has a fifty day moving average price of $421.15 and a 200 day moving average price of $371.08. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $475.69. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The firm had revenue of $655.60 million during the quarter, compared to the consensus estimate of $797.00 million. During the same quarter in the previous year, the business earned $1.88 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Carpenter Technology Corporation will post 10.54 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology's dividend payout ratio is presently 8.42%.

Insider Buying and Selling at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total value of $5,214,668.40. Following the completion of the sale, the vice president owned 18,344 shares of the company's stock, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anastasios John Hart sold 750 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.86, for a total value of $317,895.00. Following the completion of the sale, the director owned 750 shares of the company's stock, valued at approximately $317,895. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRS. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. KeyCorp boosted their target price on Carpenter Technology from $453.00 to $459.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. TD Cowen boosted their target price on Carpenter Technology from $450.00 to $470.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price target on Carpenter Technology from $400.00 to $425.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Finally, Susquehanna boosted their price target on Carpenter Technology from $470.00 to $495.00 and gave the stock a "positive" rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $441.00.

Trending Headlines about Carpenter Technology

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

• Positive Sentiment: Zacks Research raised EPS estimates for multiple future periods, including Q4 2026, Q1 2027, Q2 2027, Q3 2027, FY2027, Q1 2028, Q2 2028, Q3 2028, and FY2028, signaling confidence in Carpenter Technology’s earnings trajectory.
• Positive Sentiment: The higher FY2027 and FY2028 projections suggest the market may be looking past near-term results and focusing on durable long-term profit growth.
• Neutral Sentiment: A separate valuation-focused article highlights that shares have had strong multi-period gains, which may lead some investors to pause and reassess whether the stock is getting expensive after its run-up. A Look At Carpenter Technology (CRS) Valuation After Strong Multi Period Share Price Gains

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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