Timkensteel (TMST) Sets New 12-Month Low at $11.55

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Timkensteel Corp (NYSE:TMST)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $11.55 and last traded at $11.94, with a volume of 15239 shares traded. The stock had previously closed at $12.18.

TMST has been the topic of a number of research analyst reports. ValuEngine raised shares of Timkensteel from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Zacks Investment Research cut shares of Timkensteel from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $17.00 price objective on shares of Timkensteel in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.67.

The stock has a market capitalization of $548.39 million, a PE ratio of -11.95 and a beta of 1.87. The company has a current ratio of 2.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

Timkensteel (NYSE:TMST) last released its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.11). Timkensteel had a negative return on equity of 5.79% and a negative net margin of 2.29%. The company had revenue of $413.50 million for the quarter, compared to the consensus estimate of $419.33 million. During the same period last year, the company earned ($0.03) EPS. Timkensteel’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Timkensteel Corp will post 0.27 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in Timkensteel by 0.5% in the 1st quarter. Northern Trust Corp now owns 914,453 shares of the basic materials company’s stock valued at $13,891,000 after acquiring an additional 4,666 shares in the last quarter. Barclays PLC lifted its position in Timkensteel by 63.2% in the 1st quarter. Barclays PLC now owns 12,226 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 4,734 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Timkensteel by 33.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 25,259 shares of the basic materials company’s stock valued at $413,000 after acquiring an additional 6,366 shares in the last quarter. Principal Financial Group Inc. lifted its position in Timkensteel by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 299,991 shares of the basic materials company’s stock valued at $4,557,000 after acquiring an additional 7,786 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Timkensteel by 148.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 15,061 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 8,996 shares in the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.

About Timkensteel (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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