Timkensteel (TMST) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Timkensteel (NYSE:TMST) from a hold rating to a sell rating in a research report released on Friday, Zacks.com reports.

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. “

Separately, Cowen lowered shares of Timkensteel from an outperform rating to a market perform rating and increased their price objective for the company from $12.00 to $13.50 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $15.38.

NYSE TMST traded down $0.40 during trading hours on Friday, hitting $8.48. The company’s stock had a trading volume of 678,902 shares, compared to its average volume of 284,671. Timkensteel has a twelve month low of $8.18 and a twelve month high of $19.07. The firm has a market capitalization of $397.52 million, a P/E ratio of 77.09 and a beta of 2.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.66 and a quick ratio of 0.91.

Timkensteel (NYSE:TMST) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Timkensteel had a negative net margin of 1.60% and a positive return on equity of 1.71%. The business had revenue of $371.00 million for the quarter, compared to analyst estimates of $370.70 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Timkensteel’s revenue was down 2.6% compared to the same quarter last year. Sell-side analysts expect that Timkensteel will post 0.31 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Neuburgh Advisers LLC increased its stake in Timkensteel by 24.2% in the fourth quarter. Neuburgh Advisers LLC now owns 5,764 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 1,122 shares in the last quarter. Huntington National Bank increased its stake in Timkensteel by 49.4% in the first quarter. Huntington National Bank now owns 6,955 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 2,300 shares in the last quarter. Flinton Capital Management LLC increased its stake in Timkensteel by 24.2% in the fourth quarter. Flinton Capital Management LLC now owns 8,908 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 1,734 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Timkensteel by 1,012.4% in the first quarter. BNP Paribas Arbitrage SA now owns 9,133 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 8,312 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in Timkensteel by 266.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,804 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 7,129 shares in the last quarter. 76.02% of the stock is owned by hedge funds and other institutional investors.

About Timkensteel

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.

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