Zacks Investment Research upgraded shares of Timkensteel (NYSE:TMST) from a sell rating to a hold rating in a report issued on Saturday.

According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “

A number of other research firms have also recently commented on TMST. Jefferies Financial Group reiterated a hold rating and set a $18.00 target price on shares of Timkensteel in a research report on Friday, July 13th. ValuEngine cut Timkensteel from a hold rating to a sell rating in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Timkensteel currently has a consensus rating of Hold and an average target price of $17.67.

Timkensteel stock traded up $1.58 during midday trading on Friday, reaching $12.81. The company’s stock had a trading volume of 852,555 shares, compared to its average volume of 335,018. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 2.19. Timkensteel has a fifty-two week low of $10.97 and a fifty-two week high of $20.24.

Timkensteel (NYSE:TMST) last posted its earnings results on Thursday, July 26th. The basic materials company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.11). Timkensteel had a negative return on equity of 4.57% and a negative net margin of 1.71%. The firm had revenue of $413.50 million for the quarter, compared to analyst estimates of $419.33 million. During the same quarter last year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities analysts forecast that Timkensteel will post 0.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of TMST. Millennium Management LLC increased its position in shares of Timkensteel by 126.9% during the first quarter. Millennium Management LLC now owns 606,439 shares of the basic materials company’s stock worth $9,212,000 after purchasing an additional 339,168 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Timkensteel by 5.8% during the second quarter. BlackRock Inc. now owns 5,593,687 shares of the basic materials company’s stock worth $91,454,000 after buying an additional 305,082 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new position in shares of Timkensteel during the second quarter worth about $3,033,000. Dimensional Fund Advisors LP grew its holdings in shares of Timkensteel by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,717,456 shares of the basic materials company’s stock worth $60,781,000 after buying an additional 140,895 shares during the last quarter. Finally, Luminus Management LLC grew its holdings in shares of Timkensteel by 14.9% during the second quarter. Luminus Management LLC now owns 981,708 shares of the basic materials company’s stock worth $16,051,000 after buying an additional 127,668 shares during the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.

Timkensteel Company Profile

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

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