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TimkenSteel (TMST) Lowered to Hold at ValuEngine

2021-04-19

ValuEngine downgraded shares of TimkenSteel (NYSE:TMST) from a buy rating to a hold rating in a report released on Wednesday morning.


Several other research firms have also recently commented on TMST. KeyCorp set a $19.00 target price on TimkenSteel and gave the stock a buy rating in a research note on Friday, March 16th. Zacks Investment Research raised TimkenSteel from a sell rating to a hold rating in a research note on Thursday, March 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $18.60.

TimkenSteel opened at $17.09 on Wednesday, according to Marketbeat.com. TimkenSteel has a 12 month low of $12.48 and a 12 month high of $20.24. The firm has a market cap of $783.71 million, a P/E ratio of -17.09 and a beta of 2.02. The company has a quick ratio of 0.99, a current ratio of 2.08 and a debt-to-equity ratio of 0.36. 

TimkenSteel (NYSE:TMST) last released its earnings results on Thursday, April 26th. The basic materials company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.12). TimkenSteel had a negative return on equity of 7.08% and a negative net margin of 2.92%. The company had revenue of $380.80 million for the quarter, compared to analyst estimates of $372.50 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. research analysts forecast that TimkenSteel will post 0.5 EPS for the current fiscal year. 

In other TimkenSteel news, VP Tina M. Beskid sold 2,361 shares of TimkenSteel stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $17.33, for a total transaction of $40,916.13. Following the completion of the sale, the vice president now directly owns 20,303 shares of the company’s stock, valued at approximately $351,850.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is owned by insiders. 

Several institutional investors have recently bought and sold shares of TMST. First Dallas Securities Inc. purchased a new stake in shares of TimkenSteel in the 4th quarter valued at about $125,000. Acadian Asset Management LLC purchased a new stake in shares of TimkenSteel in the 4th quarter valued at about $137,000. Barclays PLC lifted its holdings in shares of 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 purchasing an additional 4,734 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of TimkenSteel in the 4th quarter valued at about $195,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of TimkenSteel in the 1st quarter valued at about $211,000. 74.72% of the stock is owned by institutional investors and hedge funds. 

About TimkenSteel

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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