Dimensional Fund Advisors LP increased its stake in shares of Timken Steel Corporation (NYSE:TMST) by 14.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,444,679 shares of the basic materials company’s stock after buying an additional 428,630 shares during the quarter. Dimensional Fund Advisors LP owned about 7.75% of Timken Steel Corporation worth $52,945,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Timken Steel Corporation by 79.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 3,416 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in Timken Steel Corporation by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 9,100 shares of the basic materials company’s stock valued at $172,000 after purchasing an additional 596 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Timken Steel Corporation by 3.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 340 shares in the last quarter. Invictus RG purchased a new stake in Timken Steel Corporation in the 1st quarter valued at approximately $176,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Timken Steel Corporation by 52.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after purchasing an additional 4,327 shares in the last quarter. 75.59% of the stock is currently owned by hedge funds and other institutional investors.
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TMST has been the topic of a number of analyst reports. BidaskClub lowered Timken Steel Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded shares of Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, July 18th. Cowen and Company set a $23.00 price target on shares of Timken Steel Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, ValuEngine upgraded shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.
Shares of Timken Steel Corporation (NYSE:TMST) opened at 15.75 on Friday. The stock’s 50 day moving average is $16.19 and its 200-day moving average is $15.21. The firm’s market capitalization is $699.68 million. Timken Steel Corporation has a 52-week low of $9.39 and a 52-week high of $23.00.
Timken Steel Corporation (NYSE:TMST) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The company had revenue of $339.10 million during the quarter, compared to the consensus estimate of $351.50 million. Timken Steel Corporation had a negative net margin of 6.39% and a negative return on equity of 12.91%. The company’s revenue was up 58.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.38) earnings per share. On average, equities analysts forecast that Timken Steel Corporation will post ($0.48) earnings per share for the current fiscal year.
Timken Steel Corporation Company Profile
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.
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