TimkenSteel Target of Unusually High Options Trading (NYSE:TMST)

TimkenSteel Co. (NYSE:TMST) saw some unusual options trading on Tuesday. Investors acquired 3,262 call options on the stock. This represents an increase of approximately 4,082% compared to the typical volume of 78 call options.

NYSE:TMST traded up $2.64 during mid-day trading on Tuesday, hitting $8.94. The stock had a trading volume of 429,690 shares, compared to its average volume of 410,953. TimkenSteel has a twelve month low of $2.16 and a twelve month high of $6.57. The stock has a market cap of $403.66 million, a price-to-earnings ratio of -2.90 and a beta of 1.91. The company’s 50 day simple moving average is $5.46 and its 200 day simple moving average is $4.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 1.69.

A number of large investors have recently modified their holdings of the stock. Royce & Associates LP lifted its stake in TimkenSteel by 26.0% in the 3rd quarter. Royce & Associates LP now owns 11,935 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 2,463 shares during the last quarter. Brown Advisory Inc. lifted its stake in TimkenSteel by 1.3% in the 4th quarter. Brown Advisory Inc. now owns 217,546 shares of the basic materials company’s stock valued at $1,016,000 after purchasing an additional 2,756 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in TimkenSteel by 10.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 32,661 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 3,196 shares during the last quarter. Van ECK Associates Corp lifted its position in TimkenSteel by 11.7% during the third quarter. Van ECK Associates Corp now owns 31,655 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 3,320 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in TimkenSteel by 34.0% during the first quarter. Metropolitan Life Insurance Co NY now owns 13,135 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 3,331 shares during the last quarter. Institutional investors and hedge funds own 58.85% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of TimkenSteel from a “hold” rating to a “sell” rating in a research note on Thursday, December 24th.

TimkenSteel Company Profile

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.

Read More: What is a Leveraged Buyout (LBO)?

Receive News & Ratings for TimkenSteel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TimkenSteel and related companies with MarketBeat.com's FREE daily email newsletter.