TimkenSteel Co. (NYSE:TMST – Get Rating) – Equities research analysts at KeyCorp reduced their Q3 2022 earnings per share (EPS) estimates for TimkenSteel in a report issued on Wednesday, May 18th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $1.18 for the quarter, down from their previous forecast of $1.19. KeyCorp currently has a “Overweight” rating and a $27.00 target price on the stock.
TimkenSteel (NYSE:TMST – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. TimkenSteel had a net margin of 14.57% and a return on equity of 31.05%. The company had revenue of $352.00 million during the quarter. During the same quarter in the previous year, the business posted $0.43 earnings per share. TimkenSteel’s revenue was up 28.7% on a year-over-year basis.
Shares of TimkenSteel stock opened at $21.11 on Monday. The company has a market capitalization of $984.27 million, a P/E ratio of 5.72 and a beta of 1.77. TimkenSteel has a 1 year low of $11.68 and a 1 year high of $24.99. The business has a 50 day moving average price of $21.35 and a 200 day moving average price of $17.72.
In related news, Director Ken V. Garcia acquired 3,685 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average cost of $17.93 per share, for a total transaction of $66,072.05. Following the completion of the acquisition, the director now directly owns 44,020 shares of the company’s stock, valued at approximately $789,278.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Moors & Cabot Inc. purchased a new stake in TimkenSteel in the 3rd quarter worth approximately $25,000. Koshinski Asset Management Inc. purchased a new stake in TimkenSteel in the 4th quarter worth approximately $41,000. MFA Wealth Advisors LLC purchased a new stake in TimkenSteel in the 3rd quarter worth approximately $62,000. Point72 Hong Kong Ltd purchased a new stake in TimkenSteel in the 1st quarter worth approximately $81,000. Finally, Huntington National Bank increased its stake in shares of TimkenSteel by 72.4% during the 4th quarter. Huntington National Bank now owns 5,955 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.
TimkenSteel Company Profile (Get Rating)
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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