4,198 Shares in Carpenter Technology Corporation $CRS Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 4,198 shares of the basic materials company’s stock, valued at approximately $2,565,000.

Several other hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in Carpenter Technology in the second quarter worth about $28,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Carpenter Technology during the second quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $30,000. SJS Investment Consulting Inc. boosted its position in shares of Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 36 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Carpenter Technology in the 2nd quarter worth approximately $43,000. Institutional investors own 92.03% of the company’s stock.

Insider Activity at Carpenter Technology

In other Carpenter Technology news, CEO Tony R. Thene sold 57,456 shares of Carpenter Technology stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the sale, the chief executive officer owned 439,631 shares of the company’s stock, valued at approximately $212,737,440.90. The trade was a 11.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramin Younessi sold 438 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $493.15, for a total transaction of $215,999.70. Following the sale, the director owned 1,953 shares of the company’s stock, valued at approximately $963,121.95. This represents a 18.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 109,721 shares of company stock worth $53,091,824 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Trending Headlines about Carpenter Technology

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.

Carpenter Technology Trading Up 0.2%

NYSE:CRS opened at $477.32 on Monday. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The stock has a market cap of $23.66 billion, a price-to-earnings ratio of 45.37, a PEG ratio of 1.71 and a beta of 1.25. The company’s 50 day moving average price is $557.70 and its 200-day moving average price is $474.39. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98.

Carpenter Technology (NYSE:CRS) last announced 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. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. During the same quarter last year, the firm posted $2.21 EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts forecast that Carpenter Technology Corporation will post 13.09 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is currently 7.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their target price on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Susquehanna cut 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. Wells Fargo & Company raised their price target on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Finally, KeyCorp lowered their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. One equities research 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 company. Based on data from MarketBeat, Carpenter Technology has a consensus rating of “Buy” and a consensus target price of $577.25.

Carpenter Technology Company 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.