Lazard Asset Management LLC grew its position in shares of Carpenter Technology Corporation (NYSE:CRS – Free Report) by 190.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,152 shares of the basic materials company’s stock after buying an additional 4,688 shares during the quarter. Lazard Asset Management LLC’s holdings in Carpenter Technology were worth $2,819,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Carpenter Technology by 10.1% in the third quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after acquiring an additional 192,533 shares in the last quarter. Invesco Ltd. raised its holdings in Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company’s stock worth $652,241,000 after purchasing an additional 327,302 shares in the last quarter. Egerton Capital UK LLP lifted its position in Carpenter Technology by 13.0% in the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company’s stock valued at $488,950,000 after purchasing an additional 178,679 shares during the period. SurgoCap Partners LP lifted its position in Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after purchasing an additional 272,896 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Carpenter Technology by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company’s stock valued at $307,333,000 after purchasing an additional 78,588 shares in the last quarter. Institutional investors and hedge funds 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: Fiscal Q4 earnings exceeded expectations: Carpenter reported adjusted earnings of $3.23 per share, ahead of the $3.09 consensus estimate and up from $2.21 a year earlier. The company also posted 12.6% year-over-year revenue growth, supporting the market’s view that profitability is accelerating. CRS Q4 Earnings and Revenues Surpass Estimates
- Positive Sentiment: Management outlined an ambitious growth trajectory: Carpenter entered fiscal 2027 with record profitability, improving aerospace demand and a fiscal 2029 operating-income target of $1.2 billion to $1.3 billion. The outlook reinforces expectations for sustained demand in aerospace and other high-performance materials markets. CRS Q4 Earnings Call Highlights Strong Growth Outlook
- Positive Sentiment: BTIG became more bullish: BTIG raised its price target from $450 to $620 and assigned a “buy” rating, indicating confidence that Carpenter’s earnings growth and industry exposure can support further upside.
- Neutral Sentiment: Analyst views remain positive but targets are being recalibrated: JPMorgan trimmed its target from $705 to $700 while maintaining an “overweight” rating, and Susquehanna reduced its target from $680 to $600 but retained a “positive” rating. These changes suggest valuation or near-term execution concerns, but neither firm turned bearish.
- Negative Sentiment: Revenue performance was mixed relative to estimates: Carpenter reported quarterly revenue of $679.7 million. Although revenue increased year over year, it was below the $863.3 million consensus cited in one report, creating a potential concern despite the EPS beat and strong profitability.
Insider Activity
Carpenter Technology Price Performance
Shares of Carpenter Technology stock opened at $520.02 on Friday. Carpenter Technology Corporation has a twelve month low of $228.00 and a twelve month high of $625.98. The stock has a market capitalization of $25.84 billion, a P/E ratio of 49.43, a PEG ratio of 1.46 and a beta of 1.22. The company has a current ratio of 3.81, a quick ratio of 2.08 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average price is $552.95 and its 200 day moving average price is $446.84.
Carpenter Technology (NYSE:CRS – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.09 by $0.14. The company 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 firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. As a group, research analysts anticipate that Carpenter Technology Corporation will post 12.86 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CRS. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. reduced their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $500.00 price target on shares of Carpenter Technology in a research note on Thursday, April 30th. BTIG Research upped their price objective on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a report on Friday. Finally, TD Cowen increased their price objective on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report 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 issued a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology presently has a consensus rating of “Buy” and a consensus target price of $567.38.
Get Our Latest Research Report on Carpenter Technology
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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.
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