Bank of Montreal Can Decreases Stake in TimkenSteel Co. (NYSE:TMST)

Bank of Montreal Can lessened its stake in TimkenSteel Co. (NYSE:TMST – Get Rating) by 3.1% in the third quarter, HoldingsChannel.com reports. The firm owned 77,887 shares of the basic materials company’s stock after selling 2,482 shares during the quarter. Bank of Montreal Can’s holdings in TimkenSteel were worth $1,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in TimkenSteel by 107.4% in the third quarter. Russell Investments Group Ltd. now owns 156,005 shares of the basic materials company’s stock valued at $2,337,000 after buying an additional 80,786 shares in the last quarter. Pacer Advisors Inc. increased its stake in TimkenSteel by 75.6% in the 3rd quarter. Pacer Advisors Inc. now owns 613,717 shares of the basic materials company’s stock valued at $9,200,000 after purchasing an additional 264,203 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in TimkenSteel during the second quarter worth $615,000. Texas Permanent School Fund boosted its position in TimkenSteel by 2.9% during the second quarter. Texas Permanent School Fund now owns 29,993 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 837 shares in the last quarter. Finally, Aviva PLC grew its holdings in TimkenSteel by 25.6% in the second quarter. Aviva PLC now owns 90,166 shares of the basic materials company’s stock valued at $1,687,000 after purchasing an additional 18,359 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

TimkenSteel Stock Up 3.1 %

NYSE:TMST opened at $18.85 on Thursday. TimkenSteel Co. has a 52-week low of $14.09 and a 52-week high of $26.23. The stock has a fifty day simple moving average of $19.03 and a 200-day simple moving average of $17.67. The company has a market capitalization of $827.52 million, a PE ratio of 17.45 and a beta of 1.71.

TimkenSteel (NYSE:TMST – Get Rating) last announced its earnings results on Friday, February 24th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.16. TimkenSteel had a net margin of 4.90% and a return on equity of 14.83%. The company had revenue of $245.40 million during the quarter, compared to analysts’ expectations of $321.40 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was down 27.5% compared to the same quarter last year. As a group, equities analysts anticipate that TimkenSteel Co. will post 1.79 earnings per share for the current year.

About TimkenSteel

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TimkenSteel Corp. engages in the manufacture of alloy, carbon and micro-alloy steel products. The firm’s products includes special bar quality steel, seamless mechanical tubing, gears, grades of steel, jumbo bloom vertical caster, TimkenSteel ultrapremium technology, and TimkenSteel endurance steels.