PNC Financial Services Group Inc. Has $42 Million Stock Position in Carpenter Technology Corporation $CRS

Key Points

• PNC Financial Services massively increased its stake in Carpenter Technology in the fourth quarter, boosting its position by 1,752.7% to 133,415 shares worth about $42 million.
• Carpenter Technology reported strong quarterly earnings of $2.77 per share, topping expectations, though revenue came in below forecasts even as sales rose 11.6% year over year.
• Analysts remain broadly bullish on the stock: nine rate it Buy, with a consensus rating of Moderate Buy and an average price target of $438.78, while recent updates from JPMorgan, Susquehanna, and BTIG all raised targets.

PNC Financial Services Group Inc. raised its position in Carpenter Technology Corporation (NYSE:CRS - Free Report) by 1,752.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,415 shares of the basic materials company's stock after acquiring an additional 126,214 shares during the period. PNC Financial Services Group Inc. owned about 0.27% of Carpenter Technology worth $42,004,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CRS. Woodline Partners LP bought a new stake in Carpenter Technology in the first quarter valued at $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Carpenter Technology by 1.7% in 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 period. Focus Partners Wealth grew its position in Carpenter Technology by 7.3% in 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 period. Quantbot Technologies LP bought a new stake in Carpenter Technology in the second quarter valued at $80,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Carpenter Technology in the second quarter valued at $533,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 3.7%

CRS stock opened at $437.61 on Friday. The business has a fifty day moving average price of $412.67 and a 200 day moving average price of $365.37. Carpenter Technology Corporation has a fifty-two week low of $219.58 and a fifty-two week high of $475.69. The stock has a market capitalization of $21.74 billion, a price-to-earnings ratio of 46.06, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share 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 analysts' expectations of $797.00 million. During the same period last year, the firm posted $1.88 EPS. The business's revenue was up 11.6% on a year-over-year basis. Analysts expect that Carpenter Technology Corporation will post 10.49 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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

Analyst Upgrades and Downgrades

CRS has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $465.00 to $470.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Susquehanna upped their price target on Carpenter Technology from $470.00 to $495.00 and gave the company a "positive" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded Carpenter Technology from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Weiss Ratings upgraded Carpenter Technology from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, May 8th. Finally, BTIG Research upped their price target on Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.78.

Carpenter Technology News Roundup

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

• Positive Sentiment: Barron’s said Carpenter Technology could “melt up,” citing earnings momentum, pricing power, and barriers to entry that may support further upside in the stock. Carpenter Technology: This Stock Will Melt Up
• Positive Sentiment: Zacks Research raised multiple earnings estimates for Carpenter Technology, including FY2026, FY2027, FY2028 and several quarterly forecasts, signaling confidence that profit growth will stay strong. Higher EPS estimates typically support a higher valuation for the stock.
• Positive Sentiment: The updated forecasts imply Carpenter Technology could generate about $10.42 per share in FY2026, $11.93 in FY2027, and $14.27 in FY2028, which is above or near the current consensus and reinforces the company’s growth narrative.
• Neutral Sentiment: Zacks also featured Carpenter Technology as a top-ranked growth stock, adding to investor attention but without any new operating update or company announcement. Carpenter Technology (CRS) is a Top-Ranked Growth Stock: Should You Buy?

Insider Activity

In other news, VP Marshall D. Akins sold 11,815 shares of Carpenter Technology stock in a transaction on Tuesday, May 5th. The stock was 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 directly owned 18,344 shares of the company's stock, valued at approximately $8,096,307.84. This trade represents a 39.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James D. Dee sold 15,800 shares of Carpenter Technology stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total value of $6,190,124.00. Following the completion of the sale, the senior vice president directly owned 73,739 shares of the company's stock, valued at $28,889,465.42. This trade represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 28,365 shares of company stock valued at $11,722,687. Company insiders own 2.90% of the company's stock.

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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