In a significant move, Steve Cohen's Point72 Asset Management completely divested its holdings in Carpenter Technology Corp. (CRS) during the second quarter of 2026. The sale involved all 250,170 shares the firm held, which were valued at approximately $98.61 million at the end of the first quarter.
This trade was disclosed in a quarterly 13F filing on August 14, which reveals positions held as of June 30, meaning the decision to exit occurred sometime between April and June. Carpenter Technology is a manufacturer and distributor of specialty metals and alloys for critical applications in the aerospace, defense, medical, and other industrial markets. The company reported strong financial results for its fiscal year 2026.