Edgar Filing: CARPENTER TECHNOLOGY CORP

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

STEPHANS PETER N

2. Issuer Name and Ticker or Trading Symbol
CARPENTER TECHNOLOGY CORP [CRS]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

CARPENTER TECHNOLOGY CORPORATION, 101 WEST BERN STREET

3. Date of Earliest Transaction (Month/Day/Year)
05/02/2005

(Street)

READING, PA 19601

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/02/2005		S		200	D	$ 56.033 ⁽¹⁾	144,382 ⁽²⁾	D
Common Stock	05/02/2005		S		200	D	$ 56.033 ⁽¹⁾	144,382 ⁽³⁾	I	In Trust by Spouse
Common Stock	05/02/2005		S		100	D	$ 56.033 ⁽¹⁾	14,600 ⁽⁴⁾	I	Spouse of Trustee
Common Stock	05/02/2005		S		226	D	$ 56.033 ⁽¹⁾	14,474 ⁽⁴⁾	I	Spouse of Trustee
Common Stock	05/03/2005		S		1,200	D	$ 56.042 ⁽⁵⁾	143,182 ⁽²⁾	D
Common Stock	05/03/2005		S		1,200	D	$ 56.042 ⁽⁵⁾	143,182 ⁽³⁾	I	In Trust by Spouse
Common Stock	05/03/2005		S		700	D	$ 56.042 ⁽⁵⁾	13,900 ⁽⁴⁾	I	Spouse of Trustee
Common Stock	05/03/2005		S		700	D	$ 56.042 ⁽⁵⁾	13,774 ⁽⁴⁾	I	Spouse of Trustee
Common Stock								54,422 ⁽⁶⁾	I	Spouse of Trustee
Common Stock								54,422 ⁽⁶⁾	I	Spouse of Trustee

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
STEPHANS PETER N CARPENTER TECHNOLOGY CORPORATION 101 WEST BERN STREET READING, PA 19601	X

Signatures

David A. Christiansen/POA		05/04/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $56.00 per share to a high of $56.12 per share.
(2)	These shares are held in the Peter N. Stephans Revocable Trust, dated March 15, 2004, Peter N. Stephans and Joan R. Stephans, Trustees
(3)	These shares are held in the Joan R. Stephans Revocable Trust, dated March 15, 2004, Peter N. Stephans and Joan R. Stephans, Trustees
(4)	These shares are held in the Peter C. Rossin 1997 Deed of Trust, dated November 21, 1997, Joan Rossin Stephans, Trustee, for the benefit of the reporting person's children. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16, or for any other purpose.
(5)	The price reported is an average of the total transactions executed for the day, with the individual transactions ranging from a low of $56.00 per share to a high of $56.19 per share.
(6)	These shares are held in the Irrevocable Deed of Trust of Peter C. Rossin and Ada E. Rossin, dated July 12, 1989, Ada E. Rossin and Joan Elizabeth Rossin Stephans, Trustees, for the benefit of the reporting person's children. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16, or for any other purpose.

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