Ameriprise Financial Inc. Has $6,538,000 Position in TimkenSteel Corp. (TMST)
Ameriprise Financial Inc. increased its position in shares of TimkenSteel Corp. (NYSE:TMST) by 22.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,640 shares of the company’s stock after buying an additional 124,647 shares during the period. Ameriprise Financial Inc. owned approximately 1.54% of TimkenSteel Corp. worth $6,538,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virginia Retirement System bought a new position in TimkenSteel Corp. during the first quarter worth $491,000. IFP Advisors Inc increased its position in 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 period. Pacad Investment Ltd. bought a new position in TimkenSteel Corp. during the first quarter worth $121,000. Prudential Financial Inc. increased its position in TimkenSteel Corp. by 49.4% in the first quarter. Prudential Financial Inc. now owns 132,157 shares of the company’s stock worth $1,203,000 after buying an additional 43,700 shares during the period. Finally, BlackRock Fund Advisors increased its position in TimkenSteel Corp. by 1.1% in the first quarter. BlackRock Fund Advisors now owns 2,422,780 shares of the company’s stock worth $22,047,000 after buying an additional 25,950 shares during the period. 60.50% of the stock is currently owned by institutional investors.
TimkenSteel Corp. (NYSE:TMST) traded up 3.676% during mid-day trading on Monday, hitting $10.689. 91,325 shares of the company were exchanged. The company’s market capitalization is $472.68 million. TimkenSteel Corp. has a 12-month low of $3.69 and a 12-month high of $14.66. The company’s 50-day moving average is $9.69 and its 200 day moving average is $10.11.
TimkenSteel Corp. (NYSE:TMST) last posted its earnings results on Thursday, July 28th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.02. The firm had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $234.22 million. TimkenSteel Corp. had a negative net margin of 9.13% and a negative return on equity of 11.76%. The company’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. Analysts expect that TimkenSteel Corp. will post ($1.23) EPS for the current year.
A number of research analysts have recently weighed in on TMST shares. Jefferies Group cut their price target on TimkenSteel Corp. from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, July 29th. Zacks Investment Research downgraded TimkenSteel Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Cowen and Company upgraded shares of TimkenSteel Corp. from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Thursday, August 11th.
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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