Timken Steel Corporation (NYSE:TMST)’s share price traded down 14% on Wednesday . The company traded as low as $12.54 and last traded at $12.83. 1,761,249 shares traded hands during mid-day trading, an increase of 246% from the average session volume of 508,709 shares. The stock had previously closed at $14.91.

A number of equities analysts have weighed in on the company. BidaskClub upgraded Timken Steel from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. KeyCorp cut Timken Steel from a “sector weight” rating to an “underweight” rating and set a $12.00 target price for the company. in a research note on Wednesday. Jefferies Group reiterated a “hold” rating and set a $19.00 target price on shares of Timken Steel in a research note on Thursday, October 19th. Zacks Investment Research upgraded Timken Steel from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, November 2nd. Finally, ValuEngine cut Timken Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $17.20.

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.21 and a quick ratio of 1.05.

Timken Steel (NYSE:TMST) last announced its earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.05). Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The firm had revenue of $339.10 million for the quarter, compared to the consensus estimate of $351.50 million. During the same period in the prior year, the business earned ($0.38) EPS. The company’s quarterly revenue was up 58.6% compared to the same quarter last year. equities research analysts anticipate that Timken Steel Corporation will post -0.56 earnings per share for the current fiscal year.

In related news, insider Tina M. Beskid sold 2,548 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $13.68, for a total transaction of $34,856.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in Timken Steel by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 20,400 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund raised its stake in shares of Timken Steel by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 28,510 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 335 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Timken Steel by 3.8% in 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 acquiring an additional 340 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Timken Steel by 0.7% in the 2nd quarter. Teachers Advisors LLC now owns 71,166 shares of the basic materials company’s stock valued at $1,094,000 after acquiring an additional 461 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Timken Steel by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,650 shares of the basic materials company’s stock valued at $487,000 after acquiring an additional 924 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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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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