Timken Steel Corporation (TMST) Position Raised by Nationwide Fund Advisors

Nationwide Fund Advisors boosted its position in shares of Timken Steel Corporation (NYSE:TMST) by 97.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,973 shares of the basic materials company’s stock after buying an additional 32,526 shares during the quarter. Nationwide Fund Advisors owned approximately 0.15% of Timken Steel worth $1,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Timken Steel by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,444,679 shares of the basic materials company’s stock worth $52,945,000 after purchasing an additional 428,630 shares in the last quarter. Vanguard Group Inc. raised its holdings in Timken Steel by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,332,660 shares of the basic materials company’s stock worth $51,223,000 after purchasing an additional 77,821 shares in the last quarter. State Street Corp raised its holdings in Timken Steel by 22.0% in the 2nd quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock worth $29,719,000 after purchasing an additional 348,031 shares in the last quarter. Royce & Associates LP raised its holdings in Timken Steel by 42.2% in the 2nd quarter. Royce & Associates LP now owns 1,097,301 shares of the basic materials company’s stock worth $16,866,000 after purchasing an additional 325,555 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Timken Steel by 1.9% in the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock worth $14,263,000 after purchasing an additional 16,961 shares in the last quarter. Institutional investors own 74.16% of the company’s stock.

Shares of Timken Steel Corporation (TMST) opened at $14.80 on Thursday. Timken Steel Corporation has a 1 year low of $12.48 and a 1 year high of $23.00. The company has a market cap of $674.18, a PE ratio of -8.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.21.

Timken Steel (NYSE:TMST) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $351.50 million. Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The business’s revenue was up 58.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.38) EPS. equities analysts predict that Timken Steel Corporation will post -0.56 earnings per share for the current fiscal year.

Several research analysts recently issued reports on TMST shares. BidaskClub lowered shares of Timken Steel from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 13th. Cowen reiterated a “buy” rating on shares of Timken Steel in a research note on Friday, September 1st. JPMorgan Chase & Co. assumed coverage on shares of Timken Steel in a research note on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price target for the company. KeyCorp downgraded shares of Timken Steel from a “sector weight” rating to an “underweight” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, December 6th. Finally, Zacks Investment Research downgraded shares of Timken Steel from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Three equities 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 stock. The company has a consensus rating of “Hold” and an average target price of $17.20.

In other news, insider Tina M. Beskid sold 2,548 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.10% of the company’s stock.

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Timken Steel 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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Institutional Ownership by Quarter for Timken Steel (NYSE:TMST)

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