Shares of Timkensteel Corp (NYSE:TMST) have received an average recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.67.
Several brokerages have commented on TMST. Zacks Investment Research upgraded shares of Timkensteel from a “strong sell” rating to a “hold” rating in a research report on Thursday. ValuEngine cut shares of Timkensteel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. BidaskClub upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group reiterated a “hold” rating and set a $18.00 target price on shares of Timkensteel in a research report on Sunday, October 29th. Finally, KeyCorp cut shares of Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 target price for the company. in a research report on Wednesday, December 6th.
In related news, insider Tina M. Beskid sold 2,548 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $13.68, for a total value of $34,856.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.10% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in shares of Timkensteel in the 3rd quarter valued at $179,000. BNP Paribas Arbitrage SA increased its position in shares of Timkensteel 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 buying an additional 4,327 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Timkensteel in the 3rd quarter valued at $212,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Timkensteel in the 3rd quarter valued at $223,000. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Timkensteel by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the basic materials company’s stock valued at $242,000 after buying an additional 5,420 shares in the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.
Timkensteel (NYSE TMST) traded up $0.59 during trading hours on Monday, reaching $17.70. The company’s stock had a trading volume of 1,190,357 shares, compared to its average volume of 584,545. Timkensteel has a 12-month low of $12.48 and a 12-month high of $23.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.21. The firm has a market cap of $777.28, a P/E ratio of -10.47 and a beta of 2.11.
Timkensteel (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 firm 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 3.98% and a negative net margin of 1.74%. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.38) EPS. analysts forecast that Timkensteel will post -0.56 EPS for the current fiscal year.
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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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