Timkensteel (TMST) Shares Up 12.6%

Timkensteel Corp (NYSE:TMST) shares shot up 12.6% during trading on Thursday . The stock traded as high as $14.58 and last traded at $13.90. 1,188,865 shares traded hands during mid-day trading, an increase of 319% from the average session volume of 283,736 shares. The stock had previously closed at $12.34.

A number of analysts have recently issued reports on TMST shares. Zacks Investment Research raised shares of Timkensteel from a “sell” rating to a “hold” rating in a report on Saturday, October 27th. ValuEngine downgraded shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Finally, Cowen started coverage on shares of Timkensteel in a report on Tuesday, January 8th. They set an “outperform” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.75.

The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $550.12 million, a PE ratio of -13.90 and a beta of 2.36.

Timkensteel (NYSE:TMST) last posted its quarterly earnings data on Wednesday, February 20th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The company had revenue of $406.40 million for the quarter, compared to the consensus estimate of $391.58 million. Timkensteel had a negative return on equity of 4.55% and a negative net margin of 1.71%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) earnings per share. On average, equities analysts predict that Timkensteel Corp will post 0.11 EPS for the current year.

Large investors have recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of Timkensteel by 1.2% in the second quarter. Northern Trust Corp now owns 925,266 shares of the basic materials company’s stock valued at $15,128,000 after acquiring an additional 10,813 shares during the period. Investment Partners LTD. purchased a new position in shares of Timkensteel in the third quarter valued at about $934,000. Gamco Investors INC. ET AL increased its position in shares of Timkensteel by 5.4% in the third quarter. Gamco Investors INC. ET AL now owns 1,647,276 shares of the basic materials company’s stock valued at $24,495,000 after acquiring an additional 83,809 shares during the period. Teton Advisors Inc. increased its position in shares of Timkensteel by 1.5% in the third quarter. Teton Advisors Inc. now owns 316,000 shares of the basic materials company’s stock valued at $4,699,000 after acquiring an additional 4,564 shares during the period. Finally, Systematic Financial Management LP increased its position in shares of Timkensteel by 2.3% in the third quarter. Systematic Financial Management LP now owns 370,205 shares of the basic materials company’s stock valued at $5,505,000 after acquiring an additional 8,375 shares during the period. Institutional investors own 76.63% of the company’s stock.

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Timkensteel Company Profile (NYSE:TMST)

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.

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