Carpenter Technology Corporation (NYSE:CRS) Short Interest Update

Carpenter Technology Corporation (NYSE:CRS) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 1,497,691 shares, a drop of 38.6% from the July 30th total of 2,437,984 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily volume of 575,620 shares, the days-to-cover ratio is currently 2.6 days.

Key Carpenter Technology News

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.

Insiders Place Their Bets

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of Carpenter Technology stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total transaction of $215,999.70. Following the completion of the sale, the director directly owned 1,953 shares of the company’s stock, valued at $963,121.95. The trade was a 18.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony R. Thene sold 57,456 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the sale, the chief executive officer owned 439,631 shares of the company’s stock, valued at $212,737,440.90. This represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 109,721 shares of company stock valued at $53,091,824. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology during the 2nd quarter valued at about $28,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Carpenter Technology during the second quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Carpenter Technology during the first quarter valued at about $30,000. SJS Investment Consulting Inc. raised its position in shares of Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Carpenter Technology in the 2nd quarter worth approximately $43,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

CRS stock opened at $477.32 on Monday. Carpenter Technology has a one year low of $228.00 and a one year high of $625.98. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 45.37, a PEG ratio of 1.71 and a beta of 1.25. 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 firm has a 50-day simple moving average of $557.70 and a two-hundred day simple moving average of $474.39.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data 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 firm had revenue of $679.70 million during the quarter, compared to analyst estimates of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. Carpenter Technology’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. On average, equities analysts forecast that Carpenter Technology will post 13.09 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s payout ratio is currently 7.60%.

Wall Street Analyst Weigh In

CRS has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. TD Cowen upped their price target 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. Wells Fargo & Company increased their price objective on shares of Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. BTIG Research boosted their price objective on shares of Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Carpenter Technology from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $577.25.

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.