Westpac Banking Corp Makes New $794,000 Investment in Carpenter Technology Corporation $CRS

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. William Blair Investment Management LLC purchased a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $205,165,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Carpenter Technology in the 2nd quarter worth approximately $1,354,000. EP Wealth Advisors LLC purchased a new position in Carpenter Technology in the 2nd quarter valued at approximately $1,147,000. Ieq Capital LLC purchased a new position in Carpenter Technology in the 2nd quarter valued at approximately $41,488,000. Finally, Callan Family Office LLC purchased a new position in Carpenter Technology in the 2nd quarter valued at approximately $334,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 1.2%

Shares of 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 1-year low of $228.00 and a 1-year high of $625.98. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 47.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.25. The firm 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 posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating 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 earned $2.21 EPS. Carpenter Technology’s revenue was up 12.6% on a year-over-year basis. Equities analysts forecast that Carpenter Technology Corporation will post 13.08 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued a $0.20 dividend. 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 payout ratio is 7.60%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CRS. Susquehanna decreased their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Wall Street Zen cut Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Saturday. BTIG Research lifted their price target on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their price target 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. Finally, TD Cowen boosted their price objective on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Buy” and a consensus target price of $577.25.

Trending Headlines about 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.

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.