Employees Retirement System of Texas lifted its stake in shares of Timkensteel Corp (NYSE:TMST) by 34.0% in the fourth quarter, Holdings Channel reports. The fund owned 130,000 shares of the basic materials company’s stock after acquiring an additional 33,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Timkensteel were worth $1,975,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Dallas Securities Inc. bought a new position in shares of Timkensteel during the fourth quarter worth about $125,000. Acadian Asset Management LLC bought a new position in shares of Timkensteel during the fourth quarter worth about $137,000. Trexquant Investment LP bought a new position in shares of Timkensteel during the third quarter worth about $179,000. Teacher Retirement System of Texas bought a new position in shares of Timkensteel during the fourth quarter worth about $195,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Timkensteel during the third quarter worth about $212,000. Institutional investors own 73.82% of the company’s stock.
A number of equities analysts have recently issued reports on TMST shares. Zacks Investment Research downgraded Timkensteel from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. KeyCorp downgraded Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 price objective for the company. in a research report on Wednesday, December 6th. BidaskClub downgraded Timkensteel from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, ValuEngine downgraded Timkensteel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Timkensteel presently has a consensus rating of “Hold” and an average price target of $18.20.
Timkensteel (NYSE:TMST) last released its earnings results on Thursday, January 25th. The basic materials company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.43). Timkensteel had a negative return on equity of 7.56% and a negative net margin of 3.33%. The business had revenue of $341.40 million for the quarter, compared to analyst estimates of $345.00 million. During the same period in the prior year, the business earned ($1.52) EPS. The company’s revenue for the quarter was up 59.0% on a year-over-year basis. analysts forecast that Timkensteel Corp will post 0.53 EPS for the current fiscal year.
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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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