Timken Steel Corporation (TMST) Downgraded by BidaskClub

BidaskClub cut shares of Timken Steel Corporation (NYSE:TMST) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other analysts have also issued reports on the company. ValuEngine lowered Timken Steel Corporation from a hold rating to a sell rating in a report on Tuesday, October 31st. Jefferies Group LLC reissued a hold rating and set a $18.00 target price on shares of Timken Steel Corporation in a report on Sunday, October 29th. J P Morgan Chase & Co initiated coverage on Timken Steel Corporation in a report on Wednesday, October 4th. They set a neutral rating and a $17.00 target price on the stock. Cowen and Company reaffirmed a buy rating on shares of Timken Steel Corporation in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered Timken Steel Corporation from a buy rating to a hold rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $18.50.

Timken Steel Corporation (NYSE:TMST) traded down $0.33 on Thursday, hitting $14.52. The stock had a trading volume of 409,864 shares, compared to its average volume of 436,415. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Timken Steel Corporation has a 12 month low of $9.53 and a 12 month high of $23.00.

Timken Steel Corporation (NYSE:TMST) last released its earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The company had revenue of $339.10 million for the quarter, compared to analyst estimates of $351.50 million. Timken Steel Corporation had a negative return on equity of 12.92% and a negative net margin of 6.39%. The business’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same period last year, the company posted ($0.38) earnings per share. equities analysts forecast that Timken Steel Corporation will post -0.52 earnings per share for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Timken Steel Corporation by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 3,416 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Timken Steel Corporation by 3.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 340 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Timken Steel Corporation by 52.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock worth $194,000 after acquiring an additional 4,327 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Timken Steel Corporation during the third quarter worth about $212,000. Finally, Capital One National Association raised its position in shares of Timken Steel Corporation by 6.2% during the second quarter. Capital One National Association now owns 16,030 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 937 shares during the last quarter. Institutional investors own 75.67% of the company’s stock.

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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