Timkensteel Corp (NYSE:TMST) – Equities research analysts at G.Research reduced their FY2021 EPS estimates for Timkensteel in a research note issued to investors on Monday, November 11th. G.Research analyst J. Bergner now forecasts that the basic materials company will post earnings of $0.45 per share for the year, down from their prior estimate of $0.60. G.Research has a “Buy” rating on the stock. G.Research also issued estimates for Timkensteel’s FY2023 earnings at $0.80 EPS.
Timkensteel (NYSE:TMST) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.35. Timkensteel had a negative net margin of 3.20% and a negative return on equity of 0.08%. The company had revenue of $274.20 million for the quarter, compared to the consensus estimate of $293.67 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was down 33.1% compared to the same quarter last year.
Shares of NYSE TMST opened at $5.87 on Tuesday. Timkensteel has a 12-month low of $4.86 and a 12-month high of $14.58. The company has a market capitalization of $329.88 million, a PE ratio of 53.36 and a beta of 2.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.41 and a quick ratio of 1.13. The firm’s 50-day moving average is $6.02 and its two-hundred day moving average is $7.00.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Timkensteel by 2.2% during the second 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. Alberta Investment Management Corp lifted its stake in shares of Timkensteel by 6.4% during the third quarter. Alberta Investment Management Corp now owns 1,906,984 shares of the basic materials company’s stock valued at $11,995,000 after buying an additional 114,556 shares during the period. D. E. Shaw & Co. Inc. increased its position in Timkensteel by 12.0% during the second 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 during the last quarter. Morgan Stanley increased its position in Timkensteel by 205.3% during the second 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 during the last quarter. Finally, Northern Trust Corp increased its position in Timkensteel by 3.3% during the second 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 during the last quarter. 70.27% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Ward J. Timken, Jr. acquired 10,000 shares of Timkensteel stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of $5.83 per share, with a total value of $58,300.00. Following the completion of the purchase, the chief executive officer now owns 197,712 shares of the company’s stock, valued at approximately $1,152,660.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ward J. Timken, Jr. acquired 15,000 shares of Timkensteel stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $4.94 per share, for a total transaction of $74,100.00. Following the purchase, the chief executive officer now directly owns 197,712 shares of the company’s stock, valued at approximately $976,697.28. The disclosure for this purchase can be found here. Insiders have purchased 26,250 shares of company stock worth $138,763 in the last three months. Insiders own 8.70% of the company’s stock.
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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