Swiss National Bank raised its position in TimkenSteel Corp. (NYSE:TMST) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 62,700 shares of the company’s stock after buying an additional 2,800 shares during the period. Swiss National Bank owned 0.14% of TimkenSteel Corp. worth $603,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Pacad Investment Ltd. acquired a new stake in shares of TimkenSteel Corp. during the first quarter worth about $121,000. BNP Paribas Arbitrage SA increased its stake in shares of TimkenSteel Corp. by 84.3% in the second quarter. BNP Paribas Arbitrage SA now owns 12,903 shares of the company’s stock worth $124,000 after buying an additional 5,901 shares during the period. IFP Advisors Inc increased its stake in shares of TimkenSteel Corp. by 20.9% in the first quarter. IFP Advisors Inc now owns 17,098 shares of the company’s stock worth $156,000 after buying an additional 2,954 shares during the period. Quantitative Systematic Strategies LLC increased its stake in shares of TimkenSteel Corp. by 0.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,985 shares of the company’s stock worth $170,000 after buying an additional 54 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its stake in shares of TimkenSteel Corp. by 0.9% in the second quarter. Beese Fulmer Investment Management Inc. now owns 17,782 shares of the company’s stock worth $171,000 after buying an additional 157 shares during the period. 60.50% of the stock is owned by institutional investors.
TimkenSteel Corp. (NYSE:TMST) traded down 2.07% during mid-day trading on Thursday, hitting $9.94. The stock had a trading volume of 97,147 shares. TimkenSteel Corp. has a 12-month low of $3.69 and a 12-month high of $14.63. The firm’s market cap is $439.56 million. The company has a 50-day moving average of $9.72 and a 200-day moving average of $10.14.
TimkenSteel Corp. (NYSE:TMST) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.02. TimkenSteel Corp. had a negative return on equity of 11.76% and a negative net margin of 9.13%. The firm 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 firm earned ($0.54) EPS. The firm’s quarterly revenue was down 19.8% compared to the same quarter last year. Analysts expect that TimkenSteel Corp. will post ($1.23) earnings per share for the current year.
A number of analysts have issued reports on the company. Zacks Investment Research raised TimkenSteel Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Jefferies Group reaffirmed a “hold” rating and set a $9.75 price target (down from $11.00) on shares of TimkenSteel Corp. in a report on Thursday, September 15th. Finally, Cowen and Company raised TimkenSteel Corp. from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a report 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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