California State Teachers Retirement System grew its position in shares of TimkenSteel Co. (NYSE:TMST) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,964 shares of the basic materials company’s stock after purchasing an additional 5,223 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of TimkenSteel worth $238,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of TimkenSteel by 3,889.2% during the second quarter. Bank of Montreal Can now owns 7,739 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 7,545 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of TimkenSteel in the third quarter worth approximately $35,000. Squarepoint Ops LLC acquired a new position in shares of TimkenSteel in the third quarter worth approximately $37,000. Captrust Financial Advisors acquired a new position in shares of TimkenSteel in the second quarter worth approximately $42,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of TimkenSteel by 295.5% in the third quarter. BNP Paribas Arbitrage SA now owns 11,485 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 8,581 shares during the period. 62.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on TMST shares. BidaskClub upgraded TimkenSteel from a “hold” rating to a “buy” rating in a report on Tuesday, December 8th. Zacks Investment Research downgraded TimkenSteel from a “hold” rating to a “sell” rating in a report on Thursday, December 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.50.
TimkenSteel (NYSE:TMST) last issued its earnings results on Thursday, October 29th. The basic materials company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.14). The business had revenue of $205.90 million during the quarter, compared to the consensus estimate of $204.70 million. TimkenSteel had a negative return on equity of 10.31% and a negative net margin of 13.60%. On average, research analysts predict that TimkenSteel Co. will post -0.69 earnings per share for the current year.
TimkenSteel Company 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.
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