Carpenter Technology (NYSE:CRS) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Carpenter Technology (NYSE:CRS) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports. Zacks Research also issued estimates for Carpenter Technology’s Q1 2026 earnings at $2.09 EPS, Q3 2026 earnings at $2.45 EPS, Q4 2026 earnings at $2.79 EPS, FY2026 earnings at $9.45 EPS, Q2 2027 earnings at $2.60 EPS, Q3 2027 earnings at $3.04 EPS, FY2027 earnings at $11.56 EPS and FY2028 earnings at $13.82 EPS.

A number of other research analysts also recently commented on CRS. JPMorgan Chase & Co. increased their target price on Carpenter Technology from $245.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Cowen restated a “buy” rating on shares of Carpenter Technology in a research report on Thursday, June 12th. BTIG Research reiterated a “buy” rating on shares of Carpenter Technology in a research report on Monday, August 4th. Finally, Benchmark lifted their target price on Carpenter Technology from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.33.

Carpenter Technology Trading Down 1.8%

Carpenter Technology stock opened at $246.94 on Wednesday. The firm has a 50 day moving average of $247.62 and a 200 day moving average of $232.72. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 1.14 and a beta of 1.46. Carpenter Technology has a 12-month low of $138.61 and a 12-month high of $290.84. The company has a current ratio of 3.65, a quick ratio of 2.01 and a debt-to-equity ratio of 0.37.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.18. Carpenter Technology had a net margin of 13.07% and a return on equity of 21.50%. The company had revenue of $755.60 million during the quarter, compared to analyst estimates of $790.73 million. During the same period in the prior year, the firm posted $1.82 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, research analysts predict that Carpenter Technology will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Tuesday, August 26th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 26th. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Carpenter Technology’s dividend payout ratio (DPR) is currently 10.78%.

Insider Activity

In other news, Director I Martin Inglis sold 5,691 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the transaction, the director owned 6,732 shares in the company, valued at approximately $1,646,243.28. This trade represents a 45.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony R. Thene sold 19,000 shares of Carpenter Technology stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $244.99, for a total value of $4,654,810.00. Following the completion of the transaction, the chief executive officer owned 535,019 shares in the company, valued at $131,074,304.81. This trade represents a 3.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,124 shares of company stock worth $6,890,250. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Base Wealth Management LLC purchased a new position in Carpenter Technology in the second quarter valued at about $210,000. NWF Advisory Services Inc. purchased a new position in Carpenter Technology in the second quarter valued at about $304,000. Osaic Holdings Inc. grew its stake in Carpenter Technology by 27.5% in the second quarter. Osaic Holdings Inc. now owns 23,257 shares of the basic materials company’s stock valued at $6,418,000 after purchasing an additional 5,023 shares during the last quarter. American Trust acquired a new stake in Carpenter Technology in the second quarter worth about $475,000. Finally, Orion Porfolio Solutions LLC boosted its holdings in Carpenter Technology by 13.7% in the second quarter. Orion Porfolio Solutions LLC now owns 1,530 shares of the basic materials company’s stock worth $423,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

About Carpenter Technology

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.