Zacks Investment Research cut shares of Timken Steel Corporation (NYSE:TMST) from a buy rating to a hold rating in a report published on Friday morning.

According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “

A number of other equities research analysts also recently issued reports on TMST. Jefferies Group LLC reiterated a hold rating and issued a $18.00 target price on shares of Timken Steel Corporation in a research report on Sunday, October 29th. ValuEngine downgraded shares of Timken Steel Corporation from a hold rating to a sell rating in a research report on Tuesday. Finally, BidaskClub downgraded shares of Timken Steel Corporation from a hold rating to a sell rating in a research report on Thursday. Two research 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 company presently has a consensus rating of Hold and an average price target of $18.50.

Shares of Timken Steel Corporation (TMST) traded down $0.33 during mid-day trading on Friday, hitting $14.52. 409,864 shares of the stock were exchanged, compared to its average volume of 425,325. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 2.21. Timken Steel Corporation has a twelve month low of $9.53 and a twelve month high of $23.00.

Timken Steel Corporation (NYSE:TMST) last released its earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Timken Steel Corporation had a negative return on equity of 12.92% and a negative net margin of 6.39%. The company had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same quarter in the previous year, the company earned ($0.38) EPS. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. analysts anticipate that Timken Steel Corporation will post -0.52 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in TMST. State of Alaska Department of Revenue raised its holdings in shares of Timken Steel Corporation by 79.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 3,416 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Timken Steel Corporation by 3.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 340 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Timken Steel Corporation by 52.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after purchasing an additional 4,327 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Timken Steel Corporation during the 3rd quarter valued at $212,000. Finally, Capital One National Association raised its holdings in shares of Timken Steel Corporation by 6.2% during the 2nd quarter. Capital One National Association now owns 16,030 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 937 shares in the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.

Timken Steel Corporation 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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