Timkensteel Corp (NYSE:TMST) Given Average Recommendation of “Hold” by Analysts

Timkensteel Corp (NYSE:TMST) has earned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.50.

Several equities research analysts have recently commented on TMST shares. Zacks Investment Research lowered Timkensteel from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. ValuEngine raised shares of Timkensteel from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Gabelli reissued a “buy” rating on shares of Timkensteel in a research note on Tuesday, August 6th. Cowen reissued a “market perform” rating and issued a $7.50 price objective (down previously from $8.25) on shares of Timkensteel in a research note on Tuesday, August 6th. Finally, TheStreet downgraded shares of Timkensteel from a “c-” rating to a “d+” rating in a research note on Monday, June 17th.

Timkensteel stock traded up $0.04 during mid-day trading on Friday, reaching $5.77. 359,807 shares of the company’s stock were exchanged, compared to its average volume of 311,841. The company has a market cap of $268.90 million, a P/E ratio of 52.45 and a beta of 2.38. Timkensteel has a twelve month low of $5.28 and a twelve month high of $15.41. The company has a quick ratio of 1.15, a current ratio of 3.11 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $6.98 and a 200-day moving average of $9.37.

Timkensteel (NYSE:TMST) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.45. The company had revenue of $336.70 million during the quarter, compared to analysts’ expectations of $368.67 million. Timkensteel had a negative net margin of 2.52% and a positive return on equity of 0.99%. The business’s revenue was down 18.6% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. Equities research analysts expect that Timkensteel will post -0.19 earnings per share for the current fiscal year.

In other news, CEO Ward J. Timken, Jr. purchased 30,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $6.15 per share, with a total value of $184,500.00. Following the completion of the acquisition, the chief executive officer now owns 182,712 shares of the company’s stock, valued at $1,123,678.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kristopher R. Westbrooks purchased 7,350 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $48,877.50. Following the completion of the acquisition, the insider now directly owns 36,750 shares of the company’s stock, valued at approximately $244,387.50. The disclosure for this purchase can be found here. Insiders have bought 47,350 shares of company stock valued at $308,578 in the last ninety days. Insiders own 8.70% of the company’s stock.

Several large investors have recently bought and sold shares of TMST. Bank of Montreal Can lifted its holdings in shares of Timkensteel by 2,789.3% in the 2nd quarter. Bank of Montreal Can now owns 3,496 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 3,375 shares during the last quarter. Tyers Asset Management LLC lifted its holdings in shares of Timkensteel by 25.2% during the second quarter. Tyers Asset Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 1,848 shares during the period. Huntington National Bank lifted its holdings in shares of Timkensteel by 49.4% during the first quarter. Huntington National Bank now owns 6,955 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 2,300 shares during the period. Trexquant Investment LP bought a new position in shares of Timkensteel during the second quarter valued at $82,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Timkensteel by 266.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,804 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 7,129 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.

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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