Posted by admin on May 13th, 2022

TimkenSteel Co. (NYSE:TMST – Get Rating) Director Ken V. Garcia acquired 3,685 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 44,020 shares in the company, valued at approximately $789,278.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

NYSE:TMST opened at $18.15 on Friday. The stock has a 50-day moving average price of $21.08 and a 200 day moving average price of $17.38. TimkenSteel Co. has a 12-month low of $11.68 and a 12-month high of $24.99. The stock has a market capitalization of $846.33 million, a P/E ratio of 4.92 and a beta of 1.77.

TimkenSteel (NYSE:TMST – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The firm had revenue of $352.00 million for the quarter. TimkenSteel had a return on equity of 31.05% and a net margin of 14.57%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Research analysts predict that TimkenSteel Co. will post 4.2 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Moors & Cabot Inc. acquired a new position in shares of TimkenSteel in the 3rd quarter valued at about $25,000. Koshinski Asset Management Inc. purchased a new stake in TimkenSteel during the 4th quarter worth approximately $41,000. MFA Wealth Advisors LLC acquired a new position in shares of TimkenSteel during the 3rd quarter worth approximately $62,000. Huntington National Bank boosted its holdings in shares of TimkenSteel by 72.4% during the 4th quarter. Huntington National Bank now owns 5,955 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in TimkenSteel in the third quarter valued at approximately $140,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Several analysts have weighed in on TMST shares. KeyCorp boosted their price target on shares of TimkenSteel from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. StockNews.com cut shares of TimkenSteel from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, March 2nd.

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.

Receive News & Ratings for TimkenSteel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TimkenSteel and related companies with MarketBeat.com's FREE daily email newsletter.

Anglo Pacific Group plc (LON:APF) Plans GBX 1.75 Dividend

Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Director Sells 500 Shares of Stock