Posted by admin on Aug 11th, 2022
TimkenSteel Co. (NYSE:TMST – Get Rating) – Stock analysts at KeyCorp increased their Q3 2022 earnings per share (EPS) estimates for shares of TimkenSteel in a research report issued on Sunday, August 7th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.41 per share for the quarter, up from their prior forecast of $0.27. KeyCorp currently has a “Overweight” rating and a $24.00 target price on the stock. The consensus estimate for TimkenSteel’s current full-year earnings is $3.63 per share.
Separately, StockNews.com cut shares of TimkenSteel from a “buy” rating to a “hold” rating in a research report on Monday.
Shares of TimkenSteel stock opened at $17.11 on Wednesday. The company has a fifty day moving average price of $19.23 and a 200 day moving average price of $19.45. TimkenSteel has a twelve month low of $12.04 and a twelve month high of $26.23. The stock has a market cap of $797.77 million, a price-to-earnings ratio of 4.14 and a beta of 1.76.
A number of institutional investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its position in TimkenSteel by 17.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 6,969 shares of the basic materials company’s stock valued at $130,000 after buying an additional 1,043 shares during the last quarter. Principal Financial Group Inc. boosted its position in TimkenSteel by 6.9% in the 2nd quarter. Principal Financial Group Inc. now owns 290,332 shares of the basic materials company’s stock valued at $5,432,000 after buying an additional 18,805 shares during the last quarter. Swiss National Bank purchased a new position in TimkenSteel in the 2nd quarter valued at about $1,738,000. Shell Asset Management Co. purchased a new position in TimkenSteel in the 2nd quarter valued at about $78,000. Finally, Texas Permanent School Fund boosted its position in TimkenSteel by 2.9% in the 2nd quarter. Texas Permanent School Fund now owns 29,993 shares of the basic materials company’s stock valued at $561,000 after buying an additional 837 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.
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