Timken Steel Corporation (NYSE:TMST) – Research analysts at KeyCorp decreased their FY2018 earnings per share estimates for Timken Steel in a note issued to investors on Tuesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.06 per share for the year, down from their previous estimate of $0.80. KeyCorp has a “Underweight” rating and a $12.00 price objective on the stock.

Timken Steel (NYSE:TMST) last announced its 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 company had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $351.50 million. Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The business’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.38) earnings per share.

Several other brokerages also recently commented on TMST. Jefferies Group reiterated a “hold” rating and set a $18.00 target price on shares of Timken Steel in a report on Sunday, October 29th. J P Morgan Chase & Co assumed coverage on Timken Steel in a report on Wednesday, October 4th. They set a “neutral” rating and a $17.00 target price on the stock. BidaskClub upgraded Timken Steel from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine downgraded Timken Steel from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded Timken Steel from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.20.

Shares of Timken Steel (TMST) traded up $0.48 during trading hours on Friday, hitting $13.31. The company had a trading volume of 601,800 shares, compared to its average volume of 509,108. 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 has a 1-year low of $12.48 and a 1-year high of $23.00.

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of Timken Steel by 1.9% in the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock worth $14,263,000 after acquiring an additional 16,961 shares in the last quarter. Aperio Group LLC grew its position in shares of Timken Steel by 31.0% in the 2nd quarter. Aperio Group LLC now owns 25,156 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 5,954 shares in the last quarter. Teton Advisors Inc. grew its position in shares of Timken Steel by 7.6% in the 3rd quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock worth $2,340,000 after acquiring an additional 10,000 shares in the last quarter. Citigroup Inc. grew its position in shares of Timken Steel by 36.5% in the 2nd quarter. Citigroup Inc. now owns 45,755 shares of the basic materials company’s stock worth $703,000 after acquiring an additional 12,239 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Timken Steel by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,332,660 shares of the basic materials company’s stock worth $51,223,000 after acquiring an additional 77,821 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

In other Timken Steel news, insider Tina M. Beskid sold 2,548 shares of Timken Steel stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $13.68, for a total transaction of $34,856.64. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.10% of the stock is owned by insiders.

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About Timken Steel

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.

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