Commonwealth Equity Services LLC acquired a new position in TimkenSteel Co. (NYSE:TMST – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 20,213 shares of the basic materials company's stock, valued at approximately $442,000.
Several other large investors have also recently made changes to their positions in the business. Invesco Ltd. grew its position in TimkenSteel by 42.0% during the fourth quarter. Invesco Ltd. now owns 1,104,236 shares of the basic materials company's stock valued at $18,220,000 after buying an additional 326,697 shares during the period. South Dakota Investment Council increased its stake in shares of TimkenSteel by 95.6% during the 4th quarter. South Dakota Investment Council now owns 318,214 shares of the basic materials company's stock worth $5,251,000 after purchasing an additional 155,493 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of TimkenSteel by 43.2% in the 4th quarter. Renaissance Technologies LLC now owns 411,565 shares of the basic materials company's stock worth $6,791,000 after purchasing an additional 124,119 shares during the period. Systematic Financial Management LP grew its holdings in TimkenSteel by 11.0% during the fourth quarter. Systematic Financial Management LP now owns 1,195,062 shares of the basic materials company's stock valued at $19,719,000 after purchasing an additional 118,665 shares during the period. Finally, Quantedge Capital Pte Ltd bought a new position in TimkenSteel during the fourth quarter valued at $1,305,000. 75.88% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
TMST has been the topic of a number of recent research reports. StockNews.com cut TimkenSteel from a "buy" rating to a "hold" rating in a research report on Monday, August 8th. KeyCorp lowered their price target on shares of TimkenSteel from $27.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 19th.
TimkenSteel Trading Down 4.7 %
Shares of TimkenSteel stock opened at $16.10 on Monday. The company's 50-day moving average price is $18.26 and its 200-day moving average price is $19.61. TimkenSteel Co. has a 12-month low of $12.04 and a 12-month high of $26.23. The company has a market cap of $744.22 million, a price-to-earnings ratio of 3.90 and a beta of 1.76.
TimkenSteel (NYSE:TMST – Get Rating) last posted its earnings results on Thursday, August 4th. The basic materials company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.04). The firm had revenue of $415.70 million during the quarter, compared to analysts' expectations of $413.30 million. TimkenSteel had a return on equity of 30.97% and a net margin of 15.09%. On average, sell-side analysts predict that TimkenSteel Co. will post 3.58 earnings per share for the current year.
About TimkenSteel
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TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.
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