Luminus Management LLC grew its holdings in Timkensteel Corp (NYSE:TMST) by 1,523.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 228,577 shares of the basic materials company’s stock after purchasing an additional 214,493 shares during the quarter. Luminus Management LLC owned approximately 0.51% of Timkensteel worth $3,472,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Timkensteel by 548.3% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 287,861 shares of the basic materials company’s stock valued at $4,750,000 after purchasing an additional 243,457 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Timkensteel by 381.1% during the 3rd quarter. Wells Fargo & Company MN now owns 167,385 shares of the basic materials company’s stock worth $2,762,000 after acquiring an additional 132,592 shares during the last quarter. Royce & Associates LP boosted its stake in Timkensteel by 3.8% during the 3rd quarter. Royce & Associates LP now owns 1,139,301 shares of the basic materials company’s stock worth $18,798,000 after acquiring an additional 42,000 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Timkensteel by 76.4% during the 3rd quarter. Engineers Gate Manager LP now owns 43,003 shares of the basic materials company’s stock worth $710,000 after acquiring an additional 18,630 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Timkensteel by 64.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,821 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 8,167 shares during the last quarter. 75.03% of the stock is currently owned by institutional investors.
Timkensteel Corp (TMST) opened at $17.29 on Wednesday. Timkensteel Corp has a one year low of $12.48 and a one year high of $20.80. The company has a quick ratio of 0.90, a current ratio of 1.98 and a debt-to-equity ratio of 0.29.
TMST has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Timkensteel from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. KeyCorp lowered shares of Timkensteel from a “sector weight” rating to an “underweight” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $18.20.
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Timkensteel 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.
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