TimkenSteel Co. (NYSE:TMST – Get Rating) – Equities researchers at KeyCorp cut their Q3 2022 EPS estimates for shares of TimkenSteel in a report released on Monday, August 1st. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $0.27 for the quarter, down from their previous estimate of $1.18. KeyCorp has a “Overweight” rating and a $24.00 price target on the stock. The consensus estimate for TimkenSteel’s current full-year earnings is $3.63 per share. KeyCorp also issued estimates for TimkenSteel’s Q4 2022 earnings at $0.53 EPS, FY2022 earnings at $3.15 EPS and FY2023 earnings at $1.80 EPS.
TimkenSteel (NYSE:TMST – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The basic materials company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $352.00 million during the quarter. TimkenSteel had a return on equity of 31.05% and a net margin of 14.57%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share.
TimkenSteel Stock Down 4.0 %
Shares of TimkenSteel stock opened at $16.57 on Thursday. TimkenSteel has a 52-week low of $12.04 and a 52-week high of $26.23. The company has a 50 day moving average of $19.64 and a 200 day moving average of $19.40. The company has a market capitalization of $772.59 million, a P/E ratio of 4.49 and a beta of 1.76.
Institutional Investors Weigh In On TimkenSteel
A number of institutional investors and hedge funds have recently made changes to their positions in TMST. Aviva PLC increased its position in TimkenSteel by 25.6% in the 2nd quarter. Aviva PLC now owns 90,166 shares of the basic materials company’s stock valued at $1,687,000 after acquiring an additional 18,359 shares during the period. TD Asset Management Inc. purchased a new position in TimkenSteel in the 2nd quarter valued at $395,000. Nisa Investment Advisors LLC increased its stake in TimkenSteel by 150.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the basic materials company’s stock valued at $37,000 after buying an additional 1,200 shares during the period. Assetmark Inc. increased its stake in TimkenSteel by 5.6% in the 2nd quarter. Assetmark Inc. now owns 42,603 shares of the basic materials company’s stock valued at $797,000 after buying an additional 2,257 shares during the period. Finally, New York State Teachers Retirement System raised its position in TimkenSteel by 1.0% during the 2nd quarter. New York State Teachers Retirement System now owns 86,738 shares of the basic materials company’s stock worth $1,623,000 after buying an additional 858 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Ken V. Garcia acquired 3,685 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was bought at an average price of $17.93 per share, for a total transaction of $66,072.05. Following the completion of the purchase, the director now directly owns 44,020 shares of the company’s stock, valued at approximately $789,278.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.
TimkenSteel Company Profile
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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