ValuEngine Lowers Timkensteel (TMST) to Hold

ValuEngine cut shares of Timkensteel (NYSE:TMST) from a buy rating to a hold rating in a report released on Tuesday morning.

Several other research analysts have also recently weighed in on the company. KeyCorp set a $19.00 price objective on Timkensteel and gave the stock a buy rating in a research report on Friday, March 16th. Zacks Investment Research upgraded Timkensteel from a sell rating to a hold rating in a research report on Tuesday, March 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Timkensteel has a consensus rating of Hold and a consensus price target of $18.80.

Timkensteel opened at $16.53 on Tuesday, MarketBeat.com reports. The company has a current ratio of 2.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.36. The firm has a market cap of $745.86 million, a price-to-earnings ratio of -16.53 and a beta of 2.03. Timkensteel has a fifty-two week low of $12.54 and a fifty-two week high of $20.24.

Timkensteel (NYSE:TMST) last posted its quarterly earnings data on Thursday, April 26th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12). The firm had revenue of $380.80 million for the quarter, compared to the consensus estimate of $372.50 million. Timkensteel had a negative return on equity of 7.08% and a negative net margin of 2.92%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) EPS. equities analysts expect that Timkensteel will post 0.39 EPS for the current fiscal year.

In related news, VP Tina M. Beskid sold 2,361 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $17.33, for a total value of $40,916.13. Following the transaction, the vice president now owns 20,303 shares in the company, valued at $351,850.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its position in shares of Timkensteel by 4.9% in the first quarter. Swiss National Bank now owns 65,800 shares of the basic materials company’s stock worth $1,000,000 after purchasing an additional 3,100 shares during the period. Pinebridge Investments L.P. increased its position in shares of Timkensteel by 6.4% in the fourth quarter. Pinebridge Investments L.P. now owns 59,369 shares of the basic materials company’s stock worth $902,000 after purchasing an additional 3,586 shares during the period. Northern Trust Corp increased its position in shares of Timkensteel by 0.5% in the first quarter. Northern Trust Corp now owns 914,453 shares of the basic materials company’s stock worth $13,891,000 after purchasing an additional 4,666 shares during the period. Virginia Retirement Systems ET AL increased its position in shares of Timkensteel by 13.6% in the first quarter. Virginia Retirement Systems ET AL now owns 39,300 shares of the basic materials company’s stock worth $597,000 after purchasing an additional 4,700 shares during the period. Finally, Barclays PLC increased its position in shares of Timkensteel by 63.2% in the first quarter. Barclays PLC now owns 12,226 shares of the basic materials company’s stock worth $186,000 after purchasing an additional 4,734 shares during the period. Institutional investors own 75.84% of the company’s stock.

About Timkensteel

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision components, as well as thermal treatment and machining services. The company's products are used in oil country drill pipes; bits and collars; gears; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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