Timkensteel Corp (NYSE:TMST) Position Trimmed by Teton Advisors Inc.

Teton Advisors Inc. trimmed its holdings in shares of Timkensteel Corp (NYSE:TMST) by 5.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300,000 shares of the basic materials company’s stock after selling 16,000 shares during the period. Teton Advisors Inc.’s holdings in Timkensteel were worth $2,439,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Comerica Bank boosted its holdings in Timkensteel by 2.7% during the first quarter. Comerica Bank now owns 39,301 shares of the basic materials company’s stock worth $445,000 after buying an additional 1,048 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Timkensteel by 6.1% during the second quarter. Crossmark Global Holdings Inc. now owns 31,390 shares of the basic materials company’s stock worth $255,000 after buying an additional 1,808 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Timkensteel by 34.0% during the first quarter. Metropolitan Life Insurance Co NY now owns 13,135 shares of the basic materials company’s stock worth $142,000 after buying an additional 3,331 shares in the last quarter. Bank of America Corp DE boosted its holdings in Timkensteel by 3.8% during the fourth quarter. Bank of America Corp DE now owns 100,067 shares of the basic materials company’s stock worth $874,000 after buying an additional 3,695 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in Timkensteel by 18.2% during the second quarter. WINTON GROUP Ltd now owns 44,485 shares of the basic materials company’s stock worth $362,000 after buying an additional 6,840 shares in the last quarter. Hedge funds and other institutional investors own 74.48% of the company’s stock.

A number of analysts recently weighed in on TMST shares. Gabelli restated a “buy” rating on shares of Timkensteel in a report on Tuesday, August 6th. Cowen restated a “market perform” rating and set a $7.50 target price (down from $8.25) on shares of Timkensteel in a report on Tuesday, August 6th. TheStreet lowered shares of Timkensteel from a “c-” rating to a “d+” rating in a research note on Monday, June 17th. G.Research reaffirmed a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. Finally, Zacks Investment Research lowered shares of Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.25.



In related news, insider Kristopher R. Westbrooks bought 7,350 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $6.65 per share, with a total value of $48,877.50. Following the purchase, the insider now directly owns 36,750 shares of the company’s stock, valued at approximately $244,387.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald A. Rice bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $7.52 per share, with a total value of $75,200.00. Following the purchase, the director now directly owns 70,183 shares in the company, valued at $527,776.16. The disclosure for this purchase can be found here. Insiders purchased a total of 47,350 shares of company stock valued at $308,578 in the last ninety days. Company insiders own 8.70% of the company’s stock.

Timkensteel stock traded up $0.04 during midday trading on Friday, reaching $5.77. The stock had a trading volume of 359,800 shares, compared to its average volume of 336,232. The firm’s fifty day simple moving average is $6.98 and its two-hundred day simple moving average is $9.37. Timkensteel Corp has a twelve month low of $5.28 and a twelve month high of $15.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.11 and a quick ratio of 1.15. The firm has a market cap of $256.80 million, a price-to-earnings ratio of 52.45 and a beta of 2.38.

Timkensteel (NYSE:TMST) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.45. Timkensteel had a negative net margin of 2.52% and a positive return on equity of 0.99%. The firm had revenue of $336.70 million during the quarter, compared to analyst estimates of $368.67 million. During the same quarter last year, the business posted $0.19 EPS. The company’s revenue was down 18.6% on a year-over-year basis. As a group, sell-side analysts predict that Timkensteel Corp will post -0.19 EPS for the current fiscal year.

Timkensteel Profile

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.

Further Reading: What are the economic characteristics of a bear market?

Want to see what other hedge funds are holding TMST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Timkensteel Corp (NYSE:TMST).

Institutional Ownership by Quarter for Timkensteel (NYSE:TMST)

Receive News & Ratings for Timkensteel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timkensteel and related companies with MarketBeat.com's FREE daily email newsletter.