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Van ECK Associates Corp Buys 17,124 Shares of TimkenSteel Co. (NYSE:TMST)

Defense World ·  Aug 24, 2022 07:01

Van ECK Associates Corp raised its position in TimkenSteel Co. (NYSE:TMST – Get Rating) by 42.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,268 shares of the basic materials company's stock after purchasing an additional 17,124 shares during the quarter. Van ECK Associates Corp's holdings in TimkenSteel were worth $1,253,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TMST. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TimkenSteel in the 1st quarter valued at approximately $23,874,000. Brown Advisory Inc. lifted its position in shares of TimkenSteel by 7.4% in the first quarter. Brown Advisory Inc. now owns 120,074 shares of the basic materials company's stock worth $2,627,000 after purchasing an additional 8,256 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in TimkenSteel during the first quarter worth $1,074,000. Leverage Partners Absolute Return Fund SPC bought a new position in TimkenSteel in the first quarter valued at $689,000. Finally, Aigen Investment Management LP bought a new stake in TimkenSteel during the 1st quarter worth about $248,000. 75.88% of the stock is currently owned by institutional investors.

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TimkenSteel Stock Performance

Shares of TMST stock opened at $16.03 on Wednesday. TimkenSteel Co. has a 52-week low of $12.04 and a 52-week high of $26.23. The stock has a market cap of $740.99 million, a price-to-earnings ratio of 3.88 and a beta of 1.76. The firm's 50-day moving average is $18.05 and its 200-day moving average is $19.63.

TimkenSteel (NYSE:TMST – Get Rating) last released its quarterly earnings data 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). TimkenSteel had a net margin of 15.09% and a return on equity of 30.97%. The business had revenue of $415.70 million during the quarter, compared to the consensus estimate of $413.30 million. Sell-side analysts predict that TimkenSteel Co. will post 3.58 EPS for the current fiscal year.

Analyst Ratings Changes

TMST has been the subject of several analyst reports. StockNews.com cut TimkenSteel from a "buy" rating to a "hold" rating in a report on Monday, August 8th. KeyCorp cut their price objective on TimkenSteel from $27.00 to $24.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th.

TimkenSteel Profile

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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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