Timken Steel Corporation (NYSE:TMST) Shares Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL grew its holdings in shares of Timken Steel Corporation (NYSE:TMST) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,147,176 shares of the basic materials company’s stock after acquiring an additional 31,724 shares during the period. Gamco Investors INC. ET AL owned about 2.58% of Timken Steel Corporation worth $18,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Northern Trust Corp raised its position in shares of Timken Steel Corporation by 1.9% during the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock valued at $14,263,000 after buying an additional 16,961 shares in the last quarter. Aperio Group LLC raised its position in Timken Steel Corporation by 31.0% in the 2nd quarter. Aperio Group LLC now owns 25,156 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 5,954 shares during the period. Citigroup Inc. raised its position in Timken Steel Corporation by 36.5% in the 2nd quarter. Citigroup Inc. now owns 45,755 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 12,239 shares during the period. State Street Corp raised its position in Timken Steel Corporation by 15.4% in the 1st quarter. State Street Corp now owns 1,585,433 shares of the basic materials company’s stock worth $29,978,000 after purchasing an additional 211,004 shares during the period. Finally, Phocas Financial Corp. raised its position in Timken Steel Corporation by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 369,148 shares of the basic materials company’s stock worth $5,674,000 after purchasing an additional 16,458 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

Shares of Timken Steel Corporation (NYSE TMST) traded up $0.19 during midday trading on Friday, hitting $13.81. 343,541 shares of the stock traded hands, compared to its average volume of 440,237. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Timken Steel Corporation has a 1-year low of $12.48 and a 1-year high of $23.00.

Timken Steel Corporation (NYSE:TMST) last issued its earnings results on Thursday, October 26th. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Timken Steel Corporation had a negative return on equity of 12.92% and a negative net margin of 6.39%. The firm had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $351.50 million. During the same period last year, the firm earned ($0.38) earnings per share. Timken Steel Corporation’s revenue for the quarter was up 58.6% on a year-over-year basis. research analysts predict that Timken Steel Corporation will post -0.56 earnings per share for the current fiscal year.

A number of equities analysts have commented on TMST shares. Zacks Investment Research downgraded shares of Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. BidaskClub downgraded shares of Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Cowen and Company set a $23.00 target price on shares of Timken Steel Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. ValuEngine raised 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 assumed coverage on shares of Timken Steel Corporation in a report on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

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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.

Institutional Ownership by Quarter for Timken Steel Corporation (NYSE:TMST)

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