Timkensteel (TMST) Trading 14.1% Higher

Timkensteel Corp (NYSE:TMST) was up 14.1% during mid-day trading on Friday . The stock traded as high as $13.15 and last traded at $12.81. Approximately 852,918 shares changed hands during trading, an increase of 115% from the average daily volume of 396,885 shares. The stock had previously closed at $11.23.

Several research analysts have weighed in on TMST shares. ValuEngine cut Timkensteel from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Zacks Investment Research cut Timkensteel from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price objective on shares of Timkensteel in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Timkensteel has a consensus rating of “Hold” and a consensus target price of $17.67.

The company has a quick ratio of 0.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.39.



Timkensteel (NYSE:TMST) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.11). Timkensteel had a negative return on equity of 4.57% and a negative net margin of 1.71%. The business had revenue of $413.50 million during the quarter, compared to analysts’ expectations of $419.33 million. During the same period in the prior year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts predict that Timkensteel Corp will post 0.27 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Paloma Partners Management Co purchased a new position in Timkensteel in the second quarter worth $211,000. Luminus Management LLC lifted its position in shares of Timkensteel by 14.9% during the 2nd quarter. Luminus Management LLC now owns 981,708 shares of the basic materials company’s stock valued at $16,051,000 after buying an additional 127,668 shares during the last quarter. BlackRock Inc. lifted its position in shares of Timkensteel by 5.8% during the 2nd quarter. BlackRock Inc. now owns 5,593,687 shares of the basic materials company’s stock valued at $91,454,000 after buying an additional 305,082 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Timkensteel by 5.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 515,702 shares of the basic materials company’s stock valued at $8,432,000 after buying an additional 25,997 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Timkensteel by 33.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 25,259 shares of the basic materials company’s stock valued at $413,000 after buying an additional 6,366 shares during the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.

Timkensteel Company Profile (NYSE:TMST)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision components, as well as thermal treatment and machining services. The company's products are used in oil country drill pipes; bits and collars; gears; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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