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.
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.
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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