Jefferies Group LLC Reaffirms Hold Rating for Timken Steel Corporation (TMST)

Jefferies Group LLC reissued their hold rating on shares of Timken Steel Corporation (NYSE:TMST) in a research report report published on Sunday morning. The firm currently has a $18.00 price objective on the basic materials company’s stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Timken Steel Corporation from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Friday, August 4th. Cowen and Company reaffirmed a buy rating on shares of Timken Steel Corporation in a report on Friday, September 1st. BidaskClub raised shares of Timken Steel Corporation from a hold rating to a buy rating in a report on Sunday, July 16th. ValuEngine raised shares of Timken Steel Corporation from a sell rating to a hold rating in a report on Thursday, August 3rd. Finally, J P Morgan Chase & Co initiated coverage on shares of Timken Steel Corporation in a report on Wednesday, October 4th. They issued a neutral rating and a $17.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Timken Steel Corporation currently has an average rating of Hold and an average price target of $18.75.

Timken Steel Corporation (NYSE:TMST) opened at 14.00 on Friday. The firm’s market cap is $621.94 million. Timken Steel Corporation has a one year low of $9.39 and a one year high of $23.00. The stock has a 50 day moving average of $16.28 and a 200 day moving average of $15.12.

Timken Steel Corporation (NYSE:TMST) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Timken Steel Corporation had a negative return on equity of 12.92% and a negative net margin of 6.39%. The company had revenue of $339.10 million for the quarter, compared to analyst estimates of $351.50 million. During the same period in the previous year, the business posted ($0.38) EPS. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. On average, equities analysts forecast that Timken Steel Corporation will post ($0.51) earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in TMST. BlackRock Inc. boosted its holdings in shares of Timken Steel Corporation by 51,982.7% during the first quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock valued at $92,873,000 after acquiring an additional 4,901,968 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Timken Steel Corporation by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,444,679 shares of the basic materials company’s stock valued at $52,945,000 after acquiring an additional 428,630 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Timken Steel Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 3,332,660 shares of the basic materials company’s stock valued at $51,223,000 after acquiring an additional 77,821 shares during the period. State Street Corp boosted its holdings in shares of Timken Steel Corporation by 22.0% during the second quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock valued at $29,719,000 after acquiring an additional 348,031 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Timken Steel Corporation by 100.1% during the second quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock valued at $17,144,000 after acquiring an additional 557,976 shares during the period. 75.67% of the stock is owned by hedge funds and other institutional investors.

About Timken Steel Corporation

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.

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