TimkenSteel Corp. (TMST) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lowered its position in TimkenSteel Corp. (NYSE:TMST) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 82,712 shares of the company’s stock after selling 1,847 shares during the period. California State Teachers Retirement System owned about 0.19% of TimkenSteel Corp. worth $796,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of TMST. Pacad Investment Ltd. purchased a new position in shares of TimkenSteel Corp. during the first quarter worth about $121,000. BNP Paribas Arbitrage SA boosted its position in shares of TimkenSteel Corp. by 84.3% in the second quarter. BNP Paribas Arbitrage SA now owns 12,903 shares of the company’s stock worth $124,000 after buying an additional 5,901 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of TimkenSteel Corp. during the first quarter worth about $125,000. IFP Advisors Inc boosted its position in shares of TimkenSteel Corp. by 20.9% in the first quarter. IFP Advisors Inc now owns 17,098 shares of the company’s stock worth $156,000 after buying an additional 2,954 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of TimkenSteel Corp. by 0.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,985 shares of the company’s stock worth $170,000 after buying an additional 54 shares during the last quarter. 60.50% of the stock is owned by institutional investors.
TimkenSteel Corp. (NYSE:TMST) traded up 1.06% during midday trading on Friday, hitting $10.45. The company’s stock had a trading volume of 640,856 shares. The stock has a 50 day moving average of $9.63 and a 200 day moving average of $10.06. TimkenSteel Corp. has a 52-week low of $3.69 and a 52-week high of $15.25. The company’s market cap is $462.11 million.
TimkenSteel Corp. (NYSE:TMST) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.02. The company earned $223.10 million during the quarter, compared to analyst estimates of $234.22 million. TimkenSteel Corp. had a negative return on equity of 11.76% and a negative net margin of 9.13%. The firm’s quarterly revenue was down 19.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.54) earnings per share. On average, equities analysts expect that TimkenSteel Corp. will post ($1.23) EPS for the current year.
TMST has been the subject of a number of recent research reports. Zacks Investment Research cut TimkenSteel Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Cowen and Company upgraded TimkenSteel Corp. from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Thursday, August 11th. Finally, Jefferies Group reduced their price target on TimkenSteel Corp. from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, July 29th.
About TimkenSteel Corp.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution.
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