S&P Dow Jones Indices announced that Carpenter Technology Corporation (CRS) will be added to the S&P MidCap 400 index. This change is effective prior to the open of trading on Monday, December 23, 2024.
The reclassification coincides with the quarterly rebalance, aiming to ensure that each index is more representative of its market capitalization range. Concurrently, Carpenter Technology will be removed from the S&P SmallCap 600 index.
This move signifies Carpenter Technology's growth and increased market capitalization, positioning it among mid-cap companies and potentially broadening its investor base through passive index funds.
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