Timken Steel (NYSE:TMST) was downgraded by KeyCorp from a “sector weight” rating to an “underweight” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $12.00 price target on the basic materials company’s stock. KeyCorp’s price target would suggest a potential downside of 6.47% from the stock’s previous close.

Several other analysts have also commented on TMST. Cowen reiterated a “buy” rating on shares of Timken Steel in a research report on Friday, September 1st. BidaskClub lowered shares of Timken Steel from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 13th. J P Morgan Chase & Co initiated coverage on shares of Timken Steel in a research report on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price target on the stock. Jefferies Group reiterated a “hold” rating on shares of Timken Steel in a research report on Thursday, October 12th. Finally, ValuEngine lowered shares of Timken Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.20.

Timken Steel (TMST) traded down $2.08 during mid-day trading on Wednesday, hitting $12.83. 1,762,352 shares of the stock traded hands, compared to its average volume of 508,709. Timken Steel has a twelve month low of $12.48 and a twelve month high of $23.00. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

Timken Steel (NYSE:TMST) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The business had revenue of $339.10 million during the quarter, compared to analyst estimates of $351.50 million. Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.38) earnings per share. equities analysts anticipate that Timken Steel will post -0.56 EPS for the current fiscal year.

In related news, insider Tina M. Beskid sold 2,548 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in TMST. State of Alaska Department of Revenue raised its stake in Timken Steel by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 3,416 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Timken Steel by 3.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 340 shares during the period. Trexquant Investment LP purchased a new position in Timken Steel during the third quarter worth approximately $179,000. BNP Paribas Arbitrage SA raised its stake in Timken Steel by 52.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock worth $194,000 after purchasing an additional 4,327 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in Timken Steel during the third quarter worth approximately $212,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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Timken Steel Company Profile

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.

Analyst Recommendations for Timken Steel (NYSE:TMST)

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