Timkensteel (NYSE:TMST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “
Other analysts have also issued research reports about the stock. BidaskClub raised shares of Timkensteel from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine lowered shares of Timkensteel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Jefferies Group reaffirmed a “hold” rating and set a $18.00 price target on shares of Timkensteel in a research report on Sunday, October 29th. KeyCorp lowered shares of Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 price target on the stock. in a research report on Wednesday, December 6th. Finally, JPMorgan Chase & Co. began coverage on shares of Timkensteel in a research report on Wednesday, October 4th. They set a “neutral” rating and a $17.00 price target on the stock. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.20.
Shares of Timkensteel (TMST) traded down $0.03 during trading on Friday, hitting $18.11. The stock had a trading volume of 421,056 shares, compared to its average volume of 519,189. The firm has a market cap of $804.84, a PE ratio of -10.72 and a beta of 2.11. Timkensteel has a fifty-two week low of $12.48 and a fifty-two week high of $23.00. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.
Timkensteel (NYSE:TMST) last issued its earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.05). The company had revenue of $339.10 million for the quarter, compared to analyst estimates of $351.50 million. Timkensteel had a negative return on equity of 12.92% and a negative net margin of 6.39%. The company’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.38) earnings per share. research analysts forecast that Timkensteel will post -0.55 earnings per share for the current fiscal year.
In other Timkensteel news, insider Tina M. Beskid sold 2,548 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $13.68, for a total value of $34,856.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TMST. Schwab Charles Investment Management Inc. raised its position in Timkensteel by 9.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 533,112 shares of the basic materials company’s stock valued at $8,194,000 after purchasing an additional 45,460 shares during the period. Legal & General Group Plc raised its position in Timkensteel by 9.4% in the second quarter. Legal & General Group Plc now owns 73,359 shares of the basic materials company’s stock valued at $1,128,000 after purchasing an additional 6,322 shares during the period. BNP Paribas Arbitrage SA raised its position in Timkensteel by 52.0% in the second 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 period. Principal Financial Group Inc. grew its stake in shares of Timkensteel by 0.4% in the second quarter. Principal Financial Group Inc. now owns 297,012 shares of the basic materials company’s stock worth $4,565,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Timkensteel by 3.9% in the second quarter. Franklin Resources Inc. now owns 535,500 shares of the basic materials company’s stock worth $8,231,000 after acquiring an additional 19,900 shares in the last quarter. 72.62% of the stock is currently owned by institutional investors.
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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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