TimkenSteel (NYSE:TMST) Upgraded at StockNews.com

StockNews.com upgraded shares of TimkenSteel (NYSE:TMST – Get Rating) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Several other research analysts have also weighed in on TMST. Zacks Investment Research upgraded TimkenSteel from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a report on Wednesday, March 2nd. KeyCorp boosted their price target on TimkenSteel from $22.00 to $24.00 and gave the company an overweight rating in a report on Wednesday, March 16th.

TMST stock opened at $20.11 on Friday. The business’s 50-day moving average price is $18.82 and its two-hundred day moving average price is $16.18. The firm has a market cap of $932.74 million, a PE ratio of 6.30 and a beta of 1.86. TimkenSteel has a 1-year low of $10.52 and a 1-year high of $24.10.

TimkenSteel (NYSE:TMST – Get Rating) last posted its earnings results on Thursday, February 24th. The basic materials company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.20. The firm had revenue of $338.30 million for the quarter, compared to analyst estimates of $315.50 million. TimkenSteel had a return on equity of 29.15% and a net margin of 13.33%. The company’s revenue for the quarter was up 60.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. On average, sell-side analysts expect that TimkenSteel will post 3.55 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of TimkenSteel by 4.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 183,682 shares of the basic materials company’s stock worth $2,402,000 after acquiring an additional 7,516 shares in the last quarter. Hsbc Holdings PLC bought a new stake in TimkenSteel during the 3rd quarter worth approximately $148,000. Two Sigma Investments LP lifted its stake in TimkenSteel by 8.0% in the third quarter. Two Sigma Investments LP now owns 508,222 shares of the basic materials company’s stock valued at $6,648,000 after purchasing an additional 37,712 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in TimkenSteel by 311.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 343,184 shares of the basic materials company’s stock valued at $5,663,000 after purchasing an additional 259,832 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new position in TimkenSteel in the third quarter valued at approximately $543,000. Institutional investors own 77.41% of the company’s stock.

About TimkenSteel (Get Rating)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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