NewEdge Wealth LLC Acquires Shares of 2,090 Carpenter Technology Corporation $CRS

Key Points

• NewEdge Wealth acquired 2,090 Carpenter Technology shares worth approximately $1.29 million in the second quarter. Institutional investors collectively own 92.03% of the company.
• Analysts remain bullish: Carpenter Technology has a consensus “Buy” rating and an average price target of $577.25, while Zacks raised its rating to “Strong Buy” and increased fiscal 2027–2028 earnings forecasts.
• Carpenter Technology’s latest quarterly EPS of $3.23 exceeded estimates of $3.09, with revenue up 12.6% year over year. The company also announced a quarterly dividend of $0.20 per share, though its stock trades at an elevated trailing P/E of about 47.

NewEdge Wealth LLC bought a new stake in Carpenter Technology Corporation (NYSE:CRS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,090 shares of the basic materials company's stock, valued at approximately $1,289,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Woodline Partners LP acquired a new stake in Carpenter Technology in the 1st quarter worth about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Carpenter Technology by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company's stock valued at $18,985,000 after acquiring an additional 1,701 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Carpenter Technology by 7.3% during the first quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company's stock valued at $836,000 after acquiring an additional 314 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $533,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the company a "buy" rating in a report on Friday, July 31st. Zacks Research raised shares of Carpenter Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. TD Cowen lifted their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating for the company in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $577.25.

Key Stories 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 Trading Up 1.2%

CRS opened at $494.98 on Friday. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 47.05, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25. The company's 50 day simple moving average is $566.88 and its two-hundred day simple moving average is $468.62. 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 2.23.

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

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 yield of 0.2%. Carpenter Technology's payout ratio is 7.60%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source