Bank of New York Mellon Corp Cuts Stock Holdings in Carpenter Technology Corporation $CRS

Bank of New York Mellon Corp trimmed its position in shares of Carpenter Technology Corporation (NYSE:CRS) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 404,132 shares of the basic materials company’s stock after selling 21,119 shares during the quarter. Bank of New York Mellon Corp’s holdings in Carpenter Technology were worth $127,237,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in Carpenter Technology during the 2nd quarter worth $28,000. Armstrong Advisory Group Inc. boosted its holdings in Carpenter Technology by 57.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Spire Wealth Management boosted its holdings in Carpenter Technology by 164.7% during the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 84 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Carpenter Technology in the 2nd quarter worth about $43,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Carpenter Technology in the 2nd quarter worth about $45,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRS. Wells Fargo & Company boosted their price target on shares of Carpenter Technology from $400.00 to $425.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. TD Cowen boosted their price target on shares of Carpenter Technology from $450.00 to $470.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Susquehanna boosted their price objective on Carpenter Technology from $470.00 to $495.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 price objective on shares of Carpenter Technology in a research note on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $441.00.

Key Stories Impacting Carpenter Technology

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

• Positive Sentiment: Zacks Research increased its earnings outlook for Carpenter Technology across several future periods, including FY2026, FY2027, and FY2028, reflecting a more optimistic profit forecast. Article Title
• Positive Sentiment: The analyst team also nudged near-term quarterly EPS estimates higher for Q4 2026, Q1 2027, Q2 2027, Q3 2027, and Q4 2027, reinforcing the view that earnings momentum remains intact.
• Positive Sentiment: The stock has been strong recently, and the upgraded earnings estimates help support investor confidence in Carpenter Technology’s valuation and growth story.

Carpenter Technology Trading Down 1.9%

Shares of CRS opened at $483.26 on Friday. The business’s 50-day moving average price is $431.54 and its 200-day moving average price is $376.37. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $500.16. The stock has a market cap of $24.01 billion, a PE ratio of 50.87, a P/E/G ratio of 1.79 and a beta of 1.25. The company has a quick ratio of 2.08, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a return on equity of 25.02% and a net margin of 15.82%.The firm had revenue of $655.60 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts forecast that Carpenter Technology Corporation will post 10.55 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, April 28th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. Carpenter Technology’s payout ratio is presently 8.42%.

Insider Activity

In other news, Director Anastasios John Hart sold 750 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.86, for a total transaction of $317,895.00. Following the completion of the transaction, the director owned 750 shares of the company’s stock, valued at approximately $317,895. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marshall D. Akins sold 11,815 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $441.36, for a total value of $5,214,668.40. Following the transaction, the vice president directly owned 18,344 shares of the company’s stock, valued at $8,096,307.84. The trade was a 39.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by insiders.

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.