TimkenSteel (NYSE:TMST) Shares Up 8.4%

Shares of TimkenSteel Co. (NYSE:TMSTGet Rating) shot up 8.4% during trading on Monday . The stock traded as high as $22.88 and last traded at $22.88. 12,377 shares were traded during mid-day trading, a decline of 98% from the average session volume of 821,708 shares. The stock had previously closed at $21.11.

A number of equities analysts have weighed in on TMST shares. StockNews.com upgraded shares of TimkenSteel from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. KeyCorp lifted their price target on shares of TimkenSteel from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Finally, Zacks Investment Research raised shares of TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, March 2nd.

The company’s 50-day moving average price is $21.40 and its two-hundred day moving average price is $17.83. The company has a market cap of $1.03 billion, a P/E ratio of 6.09 and a beta of 1.77.

TimkenSteel (NYSE:TMSTGet Rating) last released its earnings results on Wednesday, May 4th. The basic materials company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The company had revenue of $352.00 million during the quarter. TimkenSteel had a net margin of 14.57% and a return on equity of 31.05%. TimkenSteel’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. As a group, analysts forecast that TimkenSteel Co. will post 4.15 EPS for the current year.

In other TimkenSteel news, Director Ken V. Garcia acquired 3,685 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was acquired at an average price of $17.93 per share, with a total value of $66,072.05. Following the transaction, the director now directly owns 44,020 shares in the company, valued at $789,278.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of TMST. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TimkenSteel during the first quarter valued at approximately $23,874,000. State Street Corp boosted its holdings in TimkenSteel by 30.4% in the 1st quarter. State Street Corp now owns 3,715,946 shares of the basic materials company’s stock valued at $81,305,000 after purchasing an additional 865,868 shares during the period. Invesco Ltd. boosted its holdings in TimkenSteel by 42.0% in the 4th quarter. Invesco Ltd. now owns 1,104,236 shares of the basic materials company’s stock valued at $18,220,000 after purchasing an additional 326,697 shares during the period. BlackRock Inc. raised its stake in shares of TimkenSteel by 4.5% in the 4th quarter. BlackRock Inc. now owns 7,270,893 shares of the basic materials company’s stock valued at $119,969,000 after buying an additional 312,542 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of TimkenSteel by 311.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 343,184 shares of the basic materials company’s stock valued at $5,663,000 after buying an additional 259,832 shares in the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.

TimkenSteel Company Profile (NYSE:TMST)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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