Timken Steel Corporation (TMST) Receives $17.50 Average Price Target from Analysts
Shares of Timken Steel Corporation (NYSE:TMST) have been given an average rating of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.50.
A number of equities analysts have issued reports on TMST shares. Cowen Inc set a $23.00 price target on Timken Steel Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. BidaskClub downgraded Timken Steel Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co started coverage on Timken Steel Corporation in a research report on Wednesday, October 4th. They set a “neutral” rating and a $17.00 price target on the stock.
In other news, insider Tina M. Beskid sold 2,548 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $13.68, for a total value of $34,856.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMST. BlackRock Inc. lifted its position in shares of Timken Steel Corporation by 51,982.7% in the first quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock valued at $92,873,000 after acquiring an additional 4,901,968 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Timken Steel Corporation by 100.1% in the second quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock valued at $17,144,000 after purchasing an additional 557,976 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Timken Steel Corporation by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,444,679 shares of the basic materials company’s stock valued at $52,945,000 after purchasing an additional 428,630 shares during the last quarter. State Street Corp increased its holdings in shares of Timken Steel Corporation by 22.0% in the second quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock valued at $29,719,000 after purchasing an additional 348,031 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Timken Steel Corporation by 42.2% in the second quarter. Royce & Associates LP now owns 1,097,301 shares of the basic materials company’s stock valued at $16,866,000 after purchasing an additional 325,555 shares during the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.
Shares of Timken Steel Corporation (TMST) traded up $0.18 during mid-day trading on Friday, reaching $14.81. The company’s stock had a trading volume of 140,714 shares, compared to its average volume of 511,426. 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 Corporation has a 52 week low of $12.48 and a 52 week high of $23.00.
Timken Steel Corporation (NYSE:TMST) last issued its quarterly 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). The business had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $351.50 million. Timken Steel Corporation had a negative return on equity of 12.92% and a negative net margin of 6.39%. The business’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 posted ($0.38) EPS. research analysts predict that Timken Steel Corporation will post -0.56 EPS for the current year.
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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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