The document describes an improved heading tool for cold forging metal articles with an enlarged head, such as screws. The tool consists of an outer sleeve reinforcing an intermediate sleeve with a bore defining the head side wall. An inner member is set into the intermediate sleeve to form a recessed cavity for the head with an annular vented chamber at the floor/wall junction to allow air/oil escape. This tool design addresses prior difficulties and allows more accurate heads to be formed with a longer tool life.