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TimkenSteel Co. (NYSE:TMST - Get Rating) - Research analysts at KeyCorp reduced their Q2 2022 EPS estimates for TimkenSteel in a research note issued to investors on Monday, May 9th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $1.37 per share for the quarter, down from their previous estimate of $1.39. KeyCorp currently has a "Overweight" rating and a $27.00 target price on the stock. KeyCorp also issued estimates for TimkenSteel's Q3 2022 earnings at $1.19 EPS and Q4 2022 earnings at $0.72 EPS. TimkenSteel (NYSE:TMST - Get Rating) last announced its earnings results on Wednesday, May 4th. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.11. TimkenSteel had a net margin of 14.57% and a return on equity of 31.05%. The business had revenue of $352.00 million for the quarter. During the same period last year, the firm posted $0.43 EPS. The company's revenue was up 28.7% compared to the same quarter last year.
TMST has been the topic of a number of other research reports. StockNews.com lowered shares of TimkenSteel from a "buy" rating to a "hold" rating in a research report on Tuesday. Zacks Investment Research raised shares of TimkenSteel from a "hold" rating to a "strong-buy" rating and set a $21.00 target price on the stock in a research report on Wednesday, March 2nd.
Shares of TMST stock opened at $17.88 on Thursday. TimkenSteel has a 1 year low of $11.68 and a 1 year high of $24.99. The firm's fifty day simple moving average is $21.10 and its 200 day simple moving average is $17.37. The firm has a market capitalization of $833.67 million, a P/E ratio of 4.85 and a beta of 1.77.
A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in TimkenSteel by 48.6% in the 1st quarter. American Century Companies Inc. now owns 274,917 shares of the basic materials company's stock valued at $6,015,000 after buying an additional 89,858 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of TimkenSteel by 39.3% in the 1st quarter. First Eagle Investment Management LLC now owns 62,208 shares of the basic materials company's stock worth $1,361,000 after purchasing an additional 17,536 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TimkenSteel by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 510,965 shares of the basic materials company's stock worth $11,179,000 after purchasing an additional 45,959 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of TimkenSteel by 6.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,238 shares of the basic materials company's stock worth $355,000 after purchasing an additional 986 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of TimkenSteel in the 1st quarter worth about $2,827,000. 75.88% of the stock is currently 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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