Posted by admin on Jul 22nd, 2022

Keybank National Association OH lowered its stake in TimkenSteel Co. (NYSE:TMST – Get Rating) by 69.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 15,926 shares of the basic materials company’s stock after selling 36,844 shares during the period. Keybank National Association OH’s holdings in TimkenSteel were worth $348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TMST. Huntington National Bank raised its holdings in shares of TimkenSteel by 72.4% during the fourth quarter. Huntington National Bank now owns 5,955 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 2,500 shares in the last quarter. AXS Investments LLC bought a new position in shares of TimkenSteel during the fourth quarter valued at approximately $172,000. ProShare Advisors LLC bought a new position in shares of TimkenSteel during the fourth quarter valued at approximately $186,000. Girard Partners LTD. purchased a new stake in TimkenSteel in the first quarter worth $218,000. Finally, Versor Investments LP purchased a new stake in TimkenSteel in the fourth quarter worth $220,000. Institutional investors own 75.88% of the company’s stock.

NYSE TMST opened at $18.45 on Friday. TimkenSteel Co. has a 12 month low of $12.04 and a 12 month high of $26.23. The stock has a market cap of $860.25 million, a P/E ratio of 5.00 and a beta of 1.80. The stock’s fifty day moving average price is $20.43 and its 200-day moving average price is $19.26.

TimkenSteel (NYSE:TMST – Get Rating) last released its earnings results on Wednesday, May 4th. The basic materials company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. TimkenSteel had a return on equity of 31.05% and a net margin of 14.57%. The firm had revenue of $352.00 million for the quarter. During the same period in the prior year, the company posted $0.43 earnings per share. The company’s revenue was up 28.7% on a year-over-year basis. As a group, analysts forecast that TimkenSteel Co. will post 4.15 earnings per share for the current fiscal year.

In other TimkenSteel news, Director Ken V. Garcia acquired 3,685 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were bought at an average cost of $17.93 per share, with a total value of $66,072.05. Following the completion of the transaction, the director now directly owns 44,020 shares of the company’s stock, valued at approximately $789,278.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Several equities research analysts recently weighed in on TMST shares. KeyCorp reduced their price target on TimkenSteel from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday. StockNews.com raised TimkenSteel from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th.

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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