Beddow Capital Management Inc. cut its position in Timkensteel Corp (NYSE:TMST) by 24.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,595 shares of the basic materials company’s stock after selling 123,234 shares during the quarter. Timkensteel comprises about 1.8% of Beddow Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. Beddow Capital Management Inc. owned approximately 0.84% of Timkensteel worth $3,283,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in shares of Timkensteel by 19.1% in the fourth quarter. Rhumbline Advisers now owns 118,307 shares of the basic materials company’s stock worth $1,034,000 after purchasing an additional 19,010 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Timkensteel by 60.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,632 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 11,130 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Timkensteel by 6.2% in the fourth quarter. Arizona State Retirement System now owns 60,421 shares of the basic materials company’s stock worth $528,000 after purchasing an additional 3,506 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Timkensteel by 4.8% in the third quarter. Teachers Advisors LLC now owns 87,184 shares of the basic materials company’s stock worth $1,296,000 after purchasing an additional 3,985 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Timkensteel by 2.1% in the third quarter. Vanguard Group Inc now owns 3,749,573 shares of the basic materials company’s stock worth $55,756,000 after purchasing an additional 78,059 shares during the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.
Shares of TMST opened at $12.43 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.53 and a quick ratio of 1.08. The company has a market cap of $517.13 million, a P/E ratio of -12.43 and a beta of 2.36. Timkensteel Corp has a 12 month low of $8.18 and a 12 month high of $19.40.
A number of analysts recently commented on TMST shares. Zacks Investment Research raised Timkensteel from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Cowen started coverage on Timkensteel in a research report on Tuesday, January 8th. They set an “outperform” rating and a $12.00 price target for the company. Finally, ValuEngine downgraded Timkensteel from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Timkensteel presently has an average rating of “Buy” and a consensus price target of $15.75.
TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision components, as well as thermal treatment and machining services. The company's products are used in oil country drill pipes; bits and collars; gears; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.
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