TimkenSteel (NYSE:TMST) Shares Gap Down to $19.72

TimkenSteel Co. (NYSE:TMSTGet Rating)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $19.72, but opened at $18.31. TimkenSteel shares last traded at $16.58, with a volume of 8,186 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TMST shares. StockNews.com raised TimkenSteel from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. KeyCorp reduced their price objective on TimkenSteel from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th.

TimkenSteel Stock Performance

The business has a 50 day moving average of $19.92 and a two-hundred day moving average of $19.38. The firm has a market capitalization of $795.44 million, a price-to-earnings ratio of 4.62 and a beta of 1.76.

TimkenSteel (NYSE:TMSTGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The basic materials company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $352.00 million during the quarter. TimkenSteel had a return on equity of 31.05% and a net margin of 14.57%. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, equities analysts predict that TimkenSteel Co. will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling at TimkenSteel

In related news, Director Ken V. Garcia bought 3,685 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $17.93 per share, for a total transaction of $66,072.05. Following the completion of the transaction, the director now directly owns 44,020 shares in the company, valued at approximately $789,278.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TimkenSteel

A number of institutional investors and hedge funds have recently made changes to their positions in TMST. State Street Corp grew its stake in shares of TimkenSteel by 30.4% during the first quarter. State Street Corp now owns 3,715,946 shares of the basic materials company’s stock valued at $81,305,000 after buying an additional 865,868 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of TimkenSteel by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,888,906 shares of the basic materials company’s stock worth $63,209,000 after purchasing an additional 43,865 shares during the last quarter. Invesco Ltd. grew its stake in shares of TimkenSteel by 26.7% in the first quarter. Invesco Ltd. now owns 1,399,149 shares of the basic materials company’s stock worth $30,614,000 after purchasing an additional 294,913 shares during the last quarter. Systematic Financial Management LP grew its stake in shares of TimkenSteel by 11.0% in the fourth quarter. Systematic Financial Management LP now owns 1,195,062 shares of the basic materials company’s stock worth $19,719,000 after purchasing an additional 118,665 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TimkenSteel in the first quarter worth about $23,874,000. Hedge funds and other institutional investors 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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