ClariVest Asset Management LLC bought a new stake in shares of TimkenSteel Corp. (NYSE:TMST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 197,709 shares of the company’s stock, valued at approximately $1,901,000.
Other institutional investors also recently bought and sold shares of the company. BlackRock Fund Advisors raised its position in TimkenSteel Corp. by 1.1% in the first quarter. BlackRock Fund Advisors now owns 2,422,780 shares of the company’s stock valued at $22,047,000 after buying an additional 25,950 shares during the period. Beddow Capital Management Inc. raised its position in TimkenSteel Corp. by 15.0% in the first quarter. Beddow Capital Management Inc. now owns 542,060 shares of the company’s stock worth $4,933,000 after buying an additional 70,845 shares during the last quarter. Bogle Investment Management L P DE raised its position in TimkenSteel Corp. by 29.4% in the first quarter. Bogle Investment Management L P DE now owns 526,641 shares of the company’s stock worth $4,792,000 after buying an additional 119,566 shares during the last quarter. Thomson Horstmann & Bryant Inc. acquired a new position in TimkenSteel Corp. during the second quarter worth approximately $4,148,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in TimkenSteel Corp. during the first quarter worth approximately $3,265,000. Institutional investors own 60.50% of the company’s stock.
Shares of TimkenSteel Corp. (NYSE:TMST) traded down 0.88% during trading on Wednesday, reaching $10.17. The company had a trading volume of 172,889 shares. The firm has a 50 day moving average price of $9.73 and a 200 day moving average price of $10.14. TimkenSteel Corp. has a 12 month low of $3.69 and a 12 month high of $14.63. The company’s market cap is $449.73 million.
TimkenSteel Corp. (NYSE:TMST) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.24) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.02. TimkenSteel Corp. had a negative net margin of 9.13% and a negative return on equity of 11.76%. The company earned $223.10 million during the quarter, compared to the consensus estimate of $234.22 million. During the same period in the prior year, the business posted ($0.54) EPS. The company’s quarterly revenue was down 19.8% on a year-over-year basis. Analysts predict that TimkenSteel Corp. will post ($1.23) earnings per share for the current year.
A number of research firms have recently commented on TMST. Zacks Investment Research upgraded TimkenSteel Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 16th. Jefferies Group reiterated a “hold” rating and issued a $9.75 price objective (down from $11.00) on shares of TimkenSteel Corp. in a research note on Thursday, September 15th. Finally, Cowen and Company upgraded TimkenSteel Corp. from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Thursday, August 11th.
About TimkenSteel Corp.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution.
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