Man Group plc Invests $4.27 Million in Carpenter Technology Corporation $CRS

Man Group plc purchased a new position in shares of Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,927 shares of the basic materials company’s stock, valued at approximately $4,273,000.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Carpenter Technology in the 2nd quarter worth approximately $3,834,623,000. Jennison Associates LLC purchased a new stake in shares of Carpenter Technology in the first quarter valued at approximately $317,411,000. SurgoCap Partners LP acquired a new stake in shares of Carpenter Technology in the second quarter valued at approximately $423,444,000. Sands Capital Management LLC acquired a new stake in shares of Carpenter Technology in the fourth quarter valued at approximately $195,731,000. Finally, Norges Bank purchased a new position in Carpenter Technology during the fourth quarter worth approximately $195,254,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology News Roundup

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%

Shares of Carpenter Technology stock opened at $477.32 on Monday. The firm has a market capitalization of $23.66 billion, a price-to-earnings ratio of 45.37, a PEG ratio of 1.71 and a beta of 1.25. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81. The stock has a 50 day moving average of $557.70 and a 200 day moving average of $474.39.

Carpenter Technology (NYSE:CRS) last posted its 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. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The company had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $863.33 million. During the same quarter last year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, research analysts predict that Carpenter Technology Corporation will post 13.09 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is presently 7.60%.

Insider Activity

In other Carpenter Technology 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 transaction of $215,999.70. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony R. Thene sold 57,456 shares of the stock in a transaction dated Tuesday, August 25th. The stock was 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 of the company’s stock, valued at approximately $212,737,440.90. This trade represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 109,721 shares of company stock worth $53,091,824. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of recent research reports. BTIG Research boosted their price objective on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. KeyCorp cut their target price on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their target price on 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 upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 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.com, the stock has an average 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.