Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,007 shares of the basic materials company's stock, valued at approximately $55,520,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of Carpenter Technology as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CRS. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Carpenter Technology in the 2nd quarter worth about $708,000. Globeflex Capital L P purchased a new stake in shares of Carpenter Technology during the 2nd quarter valued at about $4,896,000. Commerce Bank bought a new position in shares of Carpenter Technology in the 2nd quarter valued at about $1,045,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Carpenter Technology in the 2nd quarter valued at about $8,370,000. Finally, Quantbot Technologies LP purchased a new position in Carpenter Technology in the second quarter worth about $1,429,000. 92.03% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology News Summary
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 Price Performance
CRS stock opened at $494.98 on Monday. The stock has a market cap of $24.53 billion, a PE ratio of 47.05, a P/E/G ratio of 1.77 and a beta of 1.25. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98. The company has a 50-day moving average price of $566.88 and a 200 day moving average price of $469.73. 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 (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $0.14. The company had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 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 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. Equities research analysts anticipate that Carpenter Technology Corporation will post 13.08 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology's dividend payout ratio is currently 7.60%.
Analyst Ratings Changes
Several brokerages have weighed in on CRS. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. KeyCorp dropped their target price on Carpenter Technology from $644.00 to $608.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Weiss Ratings downgraded Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 3rd. Finally, Susquehanna decreased their price target on Carpenter Technology from $680.00 to $600.00 and set a "positive" rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Carpenter Technology has an average rating of "Buy" and an average target price of $577.25.
Check Out Our Latest Analysis on CRS
Carpenter Technology Profile
(
Free Report)
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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