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.
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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