TimkenSteel Corp. (TMST) Shares Bought by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC increased its stake in shares of TimkenSteel Corp. (NYSE:TMST) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,985 shares of the company’s stock after buying an additional 54 shares during the period. Quantitative Systematic Strategies LLC’s holdings in TimkenSteel Corp. were worth $170,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Pacad Investment Ltd. purchased a new position in shares of TimkenSteel Corp. during the first quarter valued at about $121,000. BNP Paribas Arbitrage SA raised 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 valued at $124,000 after buying an additional 5,901 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of TimkenSteel Corp. by 0.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 28,226 shares of the company’s stock valued at $257,000 after buying an additional 256 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of TimkenSteel Corp. during the second quarter valued at about $343,000. Finally, Acadian Asset Management LLC purchased a new position in shares of TimkenSteel Corp. during the second quarter valued at about $687,000. Institutional investors own 60.47% of the company’s stock.
TimkenSteel Corp. (NYSE:TMST) traded down 0.10% on Tuesday, reaching $10.20. The company had a trading volume of 417,897 shares. TimkenSteel Corp. has a 52 week low of $3.69 and a 52 week high of $14.31. The company’s market capitalization is $451.05 million. The stock’s 50-day moving average is $9.73 and its 200-day moving average is $10.19.
TimkenSteel Corp. (NYSE:TMST) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.02. TimkenSteel Corp. had a negative return on equity of 11.76% and a negative net margin of 9.13%. The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $234.22 million. During the same period in the previous year, the firm posted ($0.54) earnings per share. The firm’s revenue for the quarter was down 19.8% on a year-over-year basis. Equities research analysts forecast that TimkenSteel Corp. will post ($1.23) EPS for the current fiscal year.
Several brokerages have recently issued reports on TMST. Zacks Investment Research raised TimkenSteel Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. Jefferies Group decreased their target price on TimkenSteel Corp. from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, July 29th. Finally, Cowen and Company raised TimkenSteel Corp. from a “market perform” rating to an “outperform” rating and set a $15.00 target price 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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