Timkensteel Corp (NYSE:TMST) – Research analysts at KeyCorp lowered their Q2 2019 earnings per share (EPS) estimates for Timkensteel in a research report issued to clients and investors on Tuesday, May 21st. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn ($0.27) per share for the quarter, down from their prior forecast of ($0.22).
Timkensteel (NYSE:TMST) last posted its earnings results on Thursday, May 2nd. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $371.00 million during the quarter, compared to analysts’ expectations of $370.70 million. Timkensteel had a negative net margin of 1.60% and a positive return on equity of 1.71%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Friday, May 17th. Cowen cut shares of Timkensteel from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $12.00 to $13.50 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Timkensteel has an average rating of “Hold” and an average price target of $15.38.
TMST stock opened at $7.67 on Friday. The stock has a market capitalization of $355.92 million, a PE ratio of 69.73 and a beta of 2.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.66 and a quick ratio of 0.91. Timkensteel has a 12 month low of $7.87 and a 12 month high of $18.84.
In other Timkensteel news, Director Ronald A. Rice acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $7.52 per share, for a total transaction of $75,200.00. Following the acquisition, the director now directly owns 70,183 shares in the company, valued at $527,776.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Timkensteel by 2.3% in the 1st quarter. BlackRock Inc. now owns 6,023,460 shares of the basic materials company’s stock valued at $65,414,000 after purchasing an additional 133,249 shares during the period. Vanguard Group Inc. grew its position in Timkensteel by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,749,573 shares of the basic materials company’s stock valued at $55,756,000 after purchasing an additional 78,059 shares during the period. Dimensional Fund Advisors LP grew its position in Timkensteel by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,737,600 shares of the basic materials company’s stock valued at $40,590,000 after purchasing an additional 12,233 shares during the period. Bank of New York Mellon Corp grew its position in Timkensteel by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,154,210 shares of the basic materials company’s stock valued at $10,087,000 after purchasing an additional 26,049 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in Timkensteel by 17.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 499,108 shares of the basic materials company’s stock valued at $4,362,000 after acquiring an additional 75,612 shares in the last quarter. 75.35% of the stock is owned by institutional investors and hedge funds.
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.
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