Lazard Asset Management LLC Acquires 4,688 Shares of Carpenter Technology Corporation $CRS

Key Points

• Lazard Asset Management increased its Carpenter Technology stake by 190.3% in the first quarter, buying 4,688 shares for a total holding valued at approximately $2.82 million. Institutional investors collectively own 92.03% of the company.
• Carpenter Technology’s latest quarterly results beat EPS expectations, reporting $3.23 per share versus the $3.09 consensus, while revenue rose 12.6% year over year to $679.7 million. However, revenue fell below the cited $863.3 million estimate.
• Analysts remain broadly positive, with a consensus “Buy” rating and average price target of $567.38; BTIG raised its target to $620, while JPMorgan and Susquehanna trimmed theirs. Two company insiders also sold shares in May.

Lazard Asset Management LLC raised its stake in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 190.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,152 shares of the basic materials company's stock after purchasing an additional 4,688 shares during the period. Lazard Asset Management LLC's holdings in Carpenter Technology were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in Carpenter Technology by 334.3% during the 4th quarter. Covestor Ltd now owns 3,492 shares of the basic materials company's stock valued at $1,099,000 after acquiring an additional 2,688 shares during the period. Peregrine Asset Advisers Inc. purchased a new position in Carpenter Technology during the 4th quarter valued at about $4,062,000. Concurrent Investment Advisors LLC raised its stake in Carpenter Technology by 127.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,141 shares of the basic materials company's stock worth $1,619,000 after buying an additional 2,883 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Carpenter Technology in the 1st quarter worth $2,876,000. Finally, UBS Group AG lifted its position in shares of Carpenter Technology by 171.2% during the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company's stock valued at $190,951,000 after buying an additional 382,865 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Insiders Place Their Bets

In other Carpenter Technology news, VP Marshall D. Akins sold 11,815 shares of the company's stock in a transaction dated 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 owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anastasios John Hart sold 750 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the transaction, the director owned 750 shares of the company's stock, valued at approximately $317,895. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $520.02 on Friday. The stock has a market cap of $25.84 billion, a price-to-earnings ratio of 49.43, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22. Carpenter Technology Corporation has a 1-year low of $228.00 and a 1-year high of $625.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.08. The firm has a 50 day simple moving average of $552.95 and a 200-day simple moving average of $446.84.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same period in the prior year, the business posted $2.21 EPS. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts expect that Carpenter Technology Corporation will post 12.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRS shares. Wells Fargo & Company raised their price objective on Carpenter Technology from $400.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. cut their price objective on shares of Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating on the stock in a research note on Friday. Susquehanna reduced their price target on Carpenter Technology from $680.00 to $600.00 and set a "positive" rating for the company in a research report on Friday. BTIG Research upped their price objective on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Zacks Research raised Carpenter Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Carpenter Technology currently has a consensus rating of "Buy" and a consensus target price of $567.38.

Carpenter Technology News Summary

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

• Positive Sentiment: Fiscal Q4 earnings exceeded expectations: Carpenter reported adjusted earnings of $3.23 per share, ahead of the $3.09 consensus estimate and up from $2.21 a year earlier. The company also posted 12.6% year-over-year revenue growth, supporting the market’s view that profitability is accelerating. CRS Q4 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management outlined an ambitious growth trajectory: Carpenter entered fiscal 2027 with record profitability, improving aerospace demand and a fiscal 2029 operating-income target of $1.2 billion to $1.3 billion. The outlook reinforces expectations for sustained demand in aerospace and other high-performance materials markets. CRS Q4 Earnings Call Highlights Strong Growth Outlook
• Positive Sentiment: BTIG became more bullish: BTIG raised its price target from $450 to $620 and assigned a “buy” rating, indicating confidence that Carpenter’s earnings growth and industry exposure can support further upside.
• Neutral Sentiment: Analyst views remain positive but targets are being recalibrated: JPMorgan trimmed its target from $705 to $700 while maintaining an “overweight” rating, and Susquehanna reduced its target from $680 to $600 but retained a “positive” rating. These changes suggest valuation or near-term execution concerns, but neither firm turned bearish.
• Negative Sentiment: Revenue performance was mixed relative to estimates: Carpenter reported quarterly revenue of $679.7 million. Although revenue increased year over year, it was below the $863.3 million consensus cited in one report, creating a potential concern despite the EPS beat and strong profitability.

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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