The Manufacturers Life Insurance Company Grows Stake in TimkenSteel Co. (NYSE:TMST)


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The Manufacturers Life Insurance Company increased its holdings in shares of TimkenSteel Co. (NYSE:TMST) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,661 shares of the basic materials company’s stock after purchasing an additional 3,196 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of TimkenSteel worth $153,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of TimkenSteel during the 3rd quarter worth approximately $35,000. Squarepoint Ops LLC acquired a new position in TimkenSteel in the third quarter valued at $37,000. ProShare Advisors LLC purchased a new position in shares of TimkenSteel during the fourth quarter worth about $50,000. Citigroup Inc. lifted its holdings in shares of TimkenSteel by 238.3% in the 4th quarter. Citigroup Inc. now owns 11,056 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 7,788 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of TimkenSteel by 34.0% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 13,135 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 3,331 shares during the period. Institutional investors own 58.85% of the company’s stock.

A number of brokerages have recently issued reports on TMST. KeyCorp raised their target price on shares of TimkenSteel from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. Zacks Investment Research lowered TimkenSteel from a “buy” rating to a “hold” rating in a report on Friday, March 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.50.

NYSE TMST opened at $11.21 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $10.50 and its two-hundred day moving average is $6.27. The stock has a market capitalization of $511.20 million, a price-to-earnings ratio of -3.76 and a beta of 1.91. TimkenSteel Co. has a 12-month low of $2.16 and a 12-month high of $12.85.

TimkenSteel (NYSE:TMST) last posted its quarterly earnings results on Thursday, February 25th. The basic materials company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.21. The business had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $216.80 million. TimkenSteel had a negative net margin of 15.79% and a negative return on equity of 13.08%. Equities analysts forecast that TimkenSteel Co. will post -1.09 earnings per share for the current fiscal year.

TimkenSteel Profile

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company operates in SBQ Steel Bar, Seamless Mechanical Steel Tubes, and Billets and Value-added Precision Products and Services segments. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services.

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Institutional Ownership by Quarter for TimkenSteel (NYSE:TMST)

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