Globeflex Capital L P Buys Shares of 7,937 Carpenter Technology Corporation $CRS

Globeflex Capital L P bought a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,937 shares of the basic materials company’s stock, valued at approximately $4,896,000.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $3,834,623,000. Jennison Associates LLC bought a new position in shares of Carpenter Technology during the 1st quarter worth approximately $317,411,000. Sands Capital Management LLC bought a new position in shares of Carpenter Technology during the 4th quarter worth approximately $195,731,000. Norges Bank purchased a new stake in Carpenter Technology during the fourth quarter valued at approximately $195,254,000. Finally, TOMS Capital Investment Management LP purchased a new stake in Carpenter Technology during the second quarter valued at approximately $106,683,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen lowered Carpenter Technology from a “buy” rating to a “hold” rating in a report on Saturday. BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Susquehanna dropped their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. One equities research 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 stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Buy” and a consensus target price of $577.25.

Carpenter Technology Stock Up 0.5%

CRS stock opened at $494.98 on Monday. The firm has a 50 day moving average of $566.88 and a 200 day moving average of $469.73. The stock has a market capitalization of $24.53 billion, a PE ratio of 47.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share 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 company had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. During the same quarter in the previous year, the firm earned $2.21 EPS. Carpenter Technology’s revenue was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Carpenter Technology Corporation will post 13.08 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued 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 payout ratio is 7.60%.

Trending Headlines about 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 Profile

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.