State Street Corp Amends Passive Stake in Carpenter Technology
Ticker: CRS · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 17843
| Field | Detail |
|---|---|
| Company | Carpenter Technology CORP (CRS) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still owns a big chunk of Carpenter Technology, signaling institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 24, 2024, disclosing its ownership of Carpenter Technology Corp (CRS) common stock as of December 31, 2023. This filing indicates that State Street continues to hold a significant passive stake in Carpenter Technology, a company specializing in steel works and rolling mills. For investors, this means a large institutional investor maintains confidence in CRS, which can be a positive signal, but it's a passive stake, so no activist changes are expected.
Why It Matters
This filing confirms a major institutional investor, State Street Corporation, continues to hold a significant, albeit passive, stake in Carpenter Technology, signaling ongoing institutional confidence in the company.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate change in investment strategy or significant risk to the company.
Analyst Insight
Investors should note that a large institutional holder like State Street maintains its position, which can be seen as a vote of confidence, but this is a passive stake, so don't expect any activist moves or major changes from this filing.
Key Numbers
- 144285103 — CUSIP Number (Identifies Carpenter Technology Corp's common stock)
- 04-2456637 — IRS Identification No. (Identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person filing the SC 13G/A
- Carpenter Technology Corp (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
- 0000017843 (number) — Central Index Key (CIK) for Carpenter Technology Corp
- 0000093751 (number) — Central Index Key (CIK) for State Street Corporation
Forward-Looking Statements
- State Street Corporation will maintain a passive investment strategy in Carpenter Technology Corp. (State Street Corporation) — high confidence, target: Next 12 months
- No significant activist pressure will come from State Street Corporation regarding Carpenter Technology Corp's management or operations. (Carpenter Technology Corp) — high confidence, target: Next 12 months
FAQ
Who filed this SC 13G/A amendment?
State Street Corporation, a financial institution with IRS Identification No. 04-2456637, filed this SC 13G/A amendment.
What company's stock is the subject of this filing?
The subject company is CARPENTER TECHNOLOGY CORP, identified by CIK 0000017843, whose common stock has CUSIP number 144285103.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What type of filing is this, and what rule is it filed under?
This is an amended SC 13G/A filing, designated under Rule 13D-1 (B) of the Securities Exchange Act of 1934.
What is Carpenter Technology Corp's primary industry?
Carpenter Technology Corp's Standard Industrial Classification (SIC) is 'STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312]'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding CARPENTER TECHNOLOGY CORP (CRS).