Timken Steel Corporation (TMST) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Timken Steel Corporation (NYSE:TMST) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Several other equities analysts have also recently commented on TMST. Jefferies Group LLC reaffirmed a hold rating and set a $18.00 price objective on shares of Timken Steel Corporation in a research note on Sunday. BidaskClub raised shares of Timken Steel Corporation from a sell rating to a hold rating in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research cut shares of Timken Steel Corporation from a buy rating to a hold rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Timken Steel Corporation currently has a consensus rating of Hold and an average price target of $18.75.

Shares of Timken Steel Corporation (NYSE TMST) traded up 7.43% on Tuesday, hitting $15.04. 254,729 shares of the company’s stock were exchanged. The firm’s market cap is $668.14 million. The stock’s 50 day moving average is $16.28 and its 200 day moving average is $15.12. Timken Steel Corporation has a 12 month low of $9.39 and a 12 month high of $23.00.

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

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A number of large investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. purchased a new position in Timken Steel Corporation during the third quarter valued at approximately $212,000. Nationwide Fund Advisors grew its stake in Timken Steel Corporation by 97.2% during the third quarter. Nationwide Fund Advisors now owns 65,973 shares of the basic materials company’s stock valued at $1,089,000 after acquiring an additional 32,526 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Timken Steel Corporation by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 214,251 shares of the basic materials company’s stock valued at $3,535,000 after acquiring an additional 5,859 shares in the last quarter. Phocas Financial Corp. grew its stake in Timken Steel Corporation by 4.7% during the second quarter. Phocas Financial Corp. now owns 369,148 shares of the basic materials company’s stock valued at $5,674,000 after acquiring an additional 16,458 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Timken Steel Corporation by 32.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 28,214 shares of the basic materials company’s stock valued at $434,000 after acquiring an additional 6,909 shares in the last quarter. 75.67% of the stock is owned by institutional investors.

Timken Steel Corporation Company Profile

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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