Timkensteel Corp (NYSE:TMST) – Research analysts at G.Research reduced their FY2019 EPS estimates for shares of Timkensteel in a research note issued to investors on Monday, October 14th. G.Research analyst J. Bergner now anticipates that the basic materials company will earn ($0.50) per share for the year, down from their previous estimate of ($0.20). G.Research has a “Buy” rating on the stock. G.Research also issued estimates for Timkensteel’s FY2020 earnings at $0.25 EPS, FY2021 earnings at $0.60 EPS, FY2022 earnings at $0.75 EPS and FY2023 earnings at $1.00 EPS.
Timkensteel (NYSE:TMST) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.45. Timkensteel had a negative net margin of 2.52% and a positive return on equity of 0.99%. The business had revenue of $336.70 million during the quarter, compared to analysts’ expectations of $368.67 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s quarterly revenue was down 18.6% compared to the same quarter last year.
TMST stock opened at $5.77 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.11 and a quick ratio of 1.15. Timkensteel has a one year low of $4.86 and a one year high of $14.58. The stock has a market cap of $261.28 million, a PE ratio of 52.45 and a beta of 2.46. The firm has a 50 day simple moving average of $6.15 and a two-hundred day simple moving average of $7.70.
In other Timkensteel news, insider Kristopher R. Westbrooks acquired 7,350 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $6.65 per share, with a total value of $48,877.50. Following the purchase, the insider now owns 36,750 shares of the company’s stock, valued at $244,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ward J. Timken, Jr. acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $4.94 per share, with a total value of $74,100.00. Following the purchase, the chief executive officer now directly owns 197,712 shares in the company, valued at approximately $976,697.28. The disclosure for this purchase can be found here. Insiders bought a total of 63,600 shares of company stock valued at $372,140 in the last ninety days. 8.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Timkensteel by 2.2% during the 2nd quarter. BlackRock Inc. now owns 6,155,898 shares of the basic materials company’s stock valued at $50,048,000 after buying an additional 132,438 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Timkensteel by 12.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 539,453 shares of the basic materials company’s stock worth $4,386,000 after purchasing an additional 57,967 shares in the last quarter. Morgan Stanley raised its holdings in Timkensteel by 205.3% in the 2nd quarter. Morgan Stanley now owns 533,845 shares of the basic materials company’s stock worth $4,340,000 after purchasing an additional 358,960 shares in the last quarter. Northern Trust Corp raised its holdings in Timkensteel by 3.3% in the 2nd quarter. Northern Trust Corp now owns 504,762 shares of the basic materials company’s stock worth $4,103,000 after purchasing an additional 16,078 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Timkensteel by 24.4% in the 2nd quarter. Invesco Ltd. now owns 412,116 shares of the basic materials company’s stock worth $3,351,000 after purchasing an additional 80,741 shares in the last quarter. 70.48% of the stock is owned by institutional investors and hedge funds.
Timkensteel Company Profile
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.
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