Credit Suisse AG Purchases New Shares in TimkenSteel Co. (NYSE:TMST)

Credit Suisse AG acquired a new position in shares of TimkenSteel Co. (NYSE:TMST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,921 shares of the basic materials company’s stock, valued at approximately $70,000.

Other hedge funds have also recently bought and sold shares of the company. Guggenheim Capital LLC grew its position in TimkenSteel by 109.4% during the third quarter. Guggenheim Capital LLC now owns 32,021 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 16,728 shares in the last quarter. Citigroup Inc. lifted its stake in shares of TimkenSteel by 238.3% in the fourth quarter. Citigroup Inc. now owns 11,056 shares of the basic materials company’s stock valued at $52,000 after buying an additional 7,788 shares during the period. BlackRock Inc. grew its position in TimkenSteel by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,457,322 shares of the basic materials company’s stock worth $30,156,000 after buying an additional 295,546 shares in the last quarter. JPMorgan Chase & Co. increased its stake in TimkenSteel by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 126,444 shares of the basic materials company’s stock valued at $446,000 after acquiring an additional 26,890 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in TimkenSteel in the 3rd quarter valued at approximately $80,000. 58.85% of the stock is owned by institutional investors.

Shares of TMST opened at $11.36 on Thursday. The stock has a fifty day moving average price of $10.44 and a two-hundred day moving average price of $6.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 1.69. TimkenSteel Co. has a 52-week low of $2.16 and a 52-week high of $12.85. The company has a market cap of $518.04 million, a price-to-earnings ratio of -3.81 and a beta of 1.91.

TimkenSteel (NYSE:TMST) last announced its earnings results on Thursday, February 25th. The basic materials company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.21. TimkenSteel had a negative return on equity of 13.08% and a negative net margin of 15.79%. The company had revenue of $211.20 million during the quarter, compared to analyst estimates of $216.80 million. As a group, research analysts predict that TimkenSteel Co. will post -1.09 EPS for the current fiscal year.

Several brokerages recently commented on TMST. KeyCorp raised their target price on TimkenSteel from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. Zacks Investment Research lowered TimkenSteel from a “buy” rating to a “hold” rating in a research note on Friday, March 19th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.

About TimkenSteel

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company operates in SBQ Steel Bar, Seamless Mechanical Steel Tubes, and Billets and Value-added Precision Products and Services segments. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services.

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Institutional Ownership by Quarter for TimkenSteel (NYSE:TMST)

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