Westpac Banking Corp Acquires Shares of 1,287 Carpenter Technology Corporation $CRS

Westpac Banking Corp acquired a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,287 shares of the basic materials company’s stock, valued at approximately $794,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. acquired a new position in shares of Carpenter Technology in the second quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Carpenter Technology during the second quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Carpenter Technology during the first quarter worth approximately $30,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carpenter Technology by 81.8% during the first 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 during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology during the second quarter worth $43,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting 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 Stock Up 1.2%

CRS opened at $494.98 on Friday. 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. The stock has a market capitalization of $24.53 billion, a P/E ratio of 47.05, a P/E/G ratio of 1.77 and a beta of 1.25. The business has a 50 day simple moving average of $566.88 and a 200-day simple moving average of $468.62.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The firm had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same quarter in the prior year, the company posted $2.21 earnings per share. Carpenter Technology’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Carpenter Technology Corporation will post 13.08 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. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, August 25th. Carpenter Technology’s payout ratio is presently 7.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRS shares. Wall Street Zen lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp cut their price objective on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Zacks Research raised shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, Susquehanna cut their price target on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $577.25.

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.