TimkenSteel Co. (NYSE:TMST) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 5,130,000 shares, a decrease of 17.8% from the March 31st total of 6,240,000 shares. Approximately 13.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 3.1 days.
Several hedge funds and other institutional investors have recently bought and sold shares of TMST. BlackRock Inc. lifted its stake in shares of TimkenSteel by 4.8% in the 4th quarter. BlackRock Inc. now owns 6,457,322 shares of the basic materials company’s stock valued at $30,156,000 after acquiring an additional 295,546 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in TimkenSteel by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 988,550 shares of the basic materials company’s stock worth $4,617,000 after purchasing an additional 76,818 shares in the last quarter. Assenagon Asset Management S.A. raised its position in TimkenSteel by 271.0% in the first quarter. Assenagon Asset Management S.A. now owns 794,087 shares of the basic materials company’s stock valued at $9,331,000 after purchasing an additional 580,061 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of TimkenSteel by 89.7% during the fourth quarter. Renaissance Technologies LLC now owns 565,946 shares of the basic materials company’s stock valued at $2,643,000 after purchasing an additional 267,677 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of TimkenSteel by 12.2% during the fourth quarter. Nuveen Asset Management LLC now owns 274,050 shares of the basic materials company’s stock worth $1,280,000 after purchasing an additional 29,733 shares during the last quarter. 58.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. KeyCorp raised their price target on TimkenSteel from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. Zacks Investment Research lowered shares of TimkenSteel from a “buy” rating to a “hold” rating in a report on Friday, March 19th. Finally, TheStreet raised shares of TimkenSteel from a “d+” rating to a “c-” rating in a report on Wednesday, April 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.50.
TimkenSteel stock traded up $0.41 during midday trading on Tuesday, reaching $13.15. The company’s stock had a trading volume of 1,382,733 shares, compared to its average volume of 1,430,411. The company has a current ratio of 1.69, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04. The stock has a market cap of $599.67 million, a PE ratio of -4.41 and a beta of 1.91. TimkenSteel has a 52 week low of $2.31 and a 52 week high of $13.59. The business has a 50-day moving average price of $11.29 and a 200-day moving average price of $6.99.
TimkenSteel (NYSE:TMST) last posted its quarterly earnings results on Thursday, February 25th. The basic materials company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.21. The company had revenue of $211.20 million for the quarter, compared to the consensus estimate of $216.80 million. TimkenSteel had a negative net margin of 15.79% and a negative return on equity of 13.08%. As a group, research analysts predict that TimkenSteel will post -1.09 EPS for the current fiscal year.
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. The company operates in SBQ Steel Bar, Seamless Mechanical Steel Tubes, and Billets; and Value-added Precision Products and Services segments. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services.
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