Carpenter Technology Corporation $CRS Stock Position Lifted by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in Carpenter Technology Corporation (NYSE:CRS) by 30.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 53,096 shares of the basic materials company’s stock after acquiring an additional 12,471 shares during the period. Van ECK Associates Corp’s holdings in Carpenter Technology were worth $32,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CRS. Navellier & Associates Inc. increased its holdings in shares of Carpenter Technology by 7.6% in the 2nd quarter. Navellier & Associates Inc. now owns 52,573 shares of the basic materials company’s stock valued at $32,429,000 after acquiring an additional 3,730 shares during the last quarter. Wellington Management Group LLP lifted its stake in Carpenter Technology by 82.2% during the second quarter. Wellington Management Group LLP now owns 506,167 shares of the basic materials company’s stock worth $312,224,000 after purchasing an additional 228,290 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in Carpenter Technology in the second quarter worth $9,612,000. Archer Investment Corp acquired a new position in Carpenter Technology in the second quarter worth $365,000. Finally, Kingsview Wealth Management LLC bought a new stake in Carpenter Technology during the second quarter valued at $521,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Up 0.2%

NYSE:CRS opened at $477.32 on Monday. The firm has a market capitalization of $23.66 billion, a P/E ratio of 45.37, a P/E/G ratio of 1.71 and a beta of 1.25. The business has a 50 day simple moving average of $557.70 and a 200 day simple moving average of $474.39. 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 Corporation has a 12-month low of $228.00 and a 12-month high of $625.98.

Carpenter Technology (NYSE:CRS) last issued 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. The firm had revenue of $679.70 million for 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%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. Equities research analysts predict that Carpenter Technology Corporation will post 13.09 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio is currently 7.60%.

Key Carpenter Technology News

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2027 EPS to $12.80 from $12.75, FY2028 EPS to $15.08 from $14.99, and FY2029 EPS to $18.44 from $18.31. Quarterly estimates for 2027 and 2028 were also increased by $0.01 to $0.03 per share, signaling improving expectations for Carpenter Technology’s future profitability.
• Positive Sentiment: Zacks Research maintained a “Strong-Buy” rating on CRS. Its forecasts imply continued earnings growth beyond the current fiscal year, with FY2029 EPS projected well above the current-year consensus estimate of $13.08.
• Neutral Sentiment: The revisions were incremental rather than major changes to the earnings outlook. With CRS trading at a relatively elevated forward valuation after a strong 12-month advance, investors may be taking profits or demanding stronger near-term catalysts before bidding the shares higher.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CRS shares. KeyCorp dropped their target price on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Zacks Research raised shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings lowered shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, Susquehanna cut their target price on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock 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 issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $577.25.

Insider Transactions at Carpenter Technology

In related news, Director Ramin Younessi sold 438 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the sale, the director owned 1,953 shares of the company’s stock, valued at $963,121.95. This trade represents a 18.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony R. Thene sold 57,456 shares of Carpenter Technology stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the completion of the sale, the chief executive officer owned 439,631 shares in the company, valued at approximately $212,737,440.90. This represents a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 109,721 shares of company stock worth $53,091,824. Corporate 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.