SG Americas Securities LLC Acquires 10,161 Shares of Carpenter Technology Corporation $CRS

Key Points

• SG Americas Securities LLC increased its stake in Carpenter Technology by 84.3% in the first quarter, buying 10,161 more shares and bringing its total holdings to 22,213 shares valued at about $8.76 million.
• Institutional interest in Carpenter Technology remains strong, with several large funds recently adding positions and 92.03% of the stock now owned by institutional investors.
• Analysts remain bullish on CRS: multiple firms raised price targets, and the stock now carries a Moderate Buy consensus with an average target of $458.62.

SG Americas Securities LLC grew its holdings in shares of Carpenter Technology Corporation (NYSE:CRS - Free Report) by 84.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,213 shares of the basic materials company's stock after buying an additional 10,161 shares during the quarter. SG Americas Securities LLC's holdings in Carpenter Technology were worth $8,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sands Capital Management LLC bought a new position in Carpenter Technology in the 4th quarter valued at about $195,731,000. Norges Bank purchased a new stake in shares of Carpenter Technology in the fourth quarter worth approximately $195,254,000. Aspex Management HK Ltd purchased a new stake in shares of Carpenter Technology in the third quarter worth approximately $136,215,000. TOMS Capital Investment Management LP bought a new position in shares of Carpenter Technology in the second quarter valued at approximately $106,683,000. Finally, UBS Group AG lifted its holdings in shares of Carpenter Technology by 171.2% in the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company's stock valued at $190,951,000 after purchasing an additional 382,865 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CRS. KeyCorp upped their price target on Carpenter Technology from $453.00 to $459.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. BTIG Research raised their price objective on Carpenter Technology from $375.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Susquehanna lifted their price objective on shares of Carpenter Technology from $470.00 to $495.00 and gave the stock a "positive" rating in a report on Thursday, April 30th. 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. Finally, TD Cowen increased their target price on shares of Carpenter Technology from $450.00 to $470.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Carpenter Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $458.62.

Insiders Place Their Bets

In other Carpenter Technology news, 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 value of $317,895.00. Following the sale, the director directly owned 750 shares in the company, valued at $317,895. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the company's 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 transaction, the vice president directly owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Carpenter Technology Trading Down 1.3%

Shares of Carpenter Technology stock opened at $591.27 on Friday. The firm has a market cap of $29.38 billion, a PE ratio of 62.24, a P/E/G ratio of 2.04 and a beta of 1.25. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $605.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.08. The stock has a fifty day moving average price of $478.82 and a 200-day moving average price of $402.51.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The company had revenue of $655.60 million for the quarter, compared to the consensus estimate of $797.00 million. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. Equities research analysts anticipate that Carpenter Technology Corporation will post 10.56 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, April 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology's dividend payout ratio (DPR) is currently 8.42%.

Key Stories Impacting Carpenter Technology

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

• Positive Sentiment: Zacks Research raised its earnings outlook for Carpenter Technology across several periods, including FY2027 to $12.09 per share and FY2028 to $14.46 per share, reinforcing the view that profit growth remains strong.
• Positive Sentiment: The firm also nudged higher near-term quarterly estimates for Q4 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, Q1 2028, Q2 2028 and Q3 2028, suggesting analysts expect the company’s operating performance to stay solid over time.
• Positive Sentiment: A separate Zacks article highlighted Carpenter Technology as a momentum stock to watch, adding to the bullish narrative around the company. Article title

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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