Vanguard Group Inc. boosted its stake in Timken Steel Corporation (NYSE:TMST) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,332,660 shares of the basic materials company’s stock after acquiring an additional 77,821 shares during the quarter. Vanguard Group Inc. owned 7.50% of Timken Steel Corporation worth $51,223,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp boosted its position in shares of Timken Steel Corporation by 1.9% during the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock valued at $14,263,000 after acquiring an additional 16,961 shares during the last quarter. Aperio Group LLC raised its holdings in Timken Steel Corporation by 31.0% in the 2nd quarter. Aperio Group LLC now owns 25,156 shares of the basic materials company’s stock valued at $387,000 after buying an additional 5,954 shares during the period. Citigroup Inc. raised its holdings in Timken Steel Corporation by 36.5% in the 2nd quarter. Citigroup Inc. now owns 45,755 shares of the basic materials company’s stock valued at $703,000 after buying an additional 12,239 shares during the period. State Street Corp raised its holdings in Timken Steel Corporation by 15.4% in the 1st quarter. State Street Corp now owns 1,585,433 shares of the basic materials company’s stock valued at $29,978,000 after buying an additional 211,004 shares during the period. Finally, Royce & Associates LP raised its holdings in Timken Steel Corporation by 42.2% in the 2nd quarter. Royce & Associates LP now owns 1,097,301 shares of the basic materials company’s stock valued at $16,866,000 after buying an additional 325,555 shares during the period. 72.21% of the stock is currently owned by institutional investors.
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A number of analysts have issued reports on the stock. BidaskClub upgraded shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine lowered shares of Timken Steel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Cowen and Company set a $23.00 target price on shares of Timken Steel Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded Timken Steel Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.00 price target on shares of Timken Steel Corporation in a report on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.50.
Timken Steel Corporation (NYSE:TMST) opened at $14.10 on Tuesday. Timken Steel Corporation has a 52-week low of $12.48 and a 52-week high of $23.00. The company has a quick ratio of 1.05, a current ratio of 2.21 and a debt-to-equity ratio of 0.28.
Timken Steel Corporation (NYSE:TMST) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The firm had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. Timken Steel Corporation had a negative net margin of 6.39% and a negative return on equity of 12.92%. The company’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) EPS. analysts predict that Timken Steel Corporation will post -0.56 EPS for the current fiscal year.
Timken Steel Corporation Profile
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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