Jefferies Group LLC Reaffirms Hold Rating for Timken Steel Corporation (TMST)

Jefferies Group LLC restated their hold rating on shares of Timken Steel Corporation (NYSE:TMST) in a report released on Thursday, October 19th. They currently have a $19.00 price target on the basic materials company’s stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Timken Steel Corporation from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Tuesday, July 18th. BidaskClub upgraded shares of Timken Steel Corporation from a hold rating to a buy rating in a research report on Sunday, July 16th. Cowen and Company set a $23.00 price target on shares of Timken Steel Corporation and gave the stock a buy rating in a research report on Thursday, July 27th. ValuEngine upgraded shares of Timken Steel Corporation from a sell rating to a hold rating in a research report on Thursday, August 3rd. Finally, J P Morgan Chase & Co initiated coverage on shares of Timken Steel Corporation in a research report on Wednesday, October 4th. They issued a neutral rating and a $17.00 price target on the stock. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Timken Steel Corporation currently has an average rating of Hold and a consensus price target of $19.00.

Shares of Timken Steel Corporation (TMST) opened at 15.75 on Thursday. Timken Steel Corporation has a one year low of $9.39 and a one year high of $23.00. The company’s market cap is $699.68 million. The company has a 50 day moving average price of $16.19 and a 200 day moving average price of $15.21.

Timken Steel Corporation (NYSE:TMST) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). Timken Steel Corporation had a negative net margin of 6.39% and a negative return on equity of 12.91%. The company had revenue of $339.10 million for the quarter, compared to the consensus estimate of $351.50 million. During the same quarter last year, the company earned ($0.38) earnings per share. The company’s revenue was up 58.6% compared to the same quarter last year. Equities analysts predict that Timken Steel Corporation will post ($0.48) EPS for the current year.

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Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position 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 during the last quarter. Municipal Employees Retirement System of Michigan lifted its position 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 during the last quarter. Mason Street Advisors LLC lifted its position 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 during the last quarter. Invictus RG bought a new stake in Timken Steel Corporation in the 1st quarter valued at about $176,000. Finally, BNP Paribas Arbitrage SA lifted its position 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 during the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.

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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