Wellington Management Group LLP Purchases 228,290 Shares of Carpenter Technology Corporation $CRS

Wellington Management Group LLP increased its holdings in Carpenter Technology Corporation (NYSE:CRS) by 82.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 506,167 shares of the basic materials company’s stock after buying an additional 228,290 shares during the period. Wellington Management Group LLP’s holdings in Carpenter Technology were worth $312,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new stake in Carpenter Technology during the second quarter valued at $28,000. Keating Financial Advisory Services Inc. bought a new position in Carpenter Technology in the 2nd quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Carpenter Technology in the 1st quarter valued at about $30,000. SJS Investment Consulting Inc. raised its holdings 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 valued at $32,000 after acquiring 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 valued at about $43,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRS. KeyCorp cut their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. BTIG Research upped their price objective on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. 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. Wall Street Zen lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, TD Cowen boosted their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $577.25.

Insider Buying and Selling

In other news, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $493.15, for a total value of $215,999.70. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony R. Thene sold 57,456 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 439,631 shares in the company, valued at approximately $212,737,440.90. This represents a 11.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 109,721 shares of company stock valued at $53,091,824. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Up 0.2%

CRS opened at $477.32 on Monday. The business’s fifty day simple moving average is $557.70 and its 200 day simple moving average is $474.39. Carpenter Technology Corporation has a 52 week low of $228.00 and a 52 week high of $625.98. 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 PE ratio of 45.37, a P/E/G ratio of 1.71 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.14. The firm had revenue of $679.70 million during 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 company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. As a group, research analysts expect that Carpenter Technology Corporation will post 13.09 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology’s payout ratio is presently 7.60%.

More 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.

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.