TimkenSteel Co. (NYSE:TMST) Short Interest Update

TimkenSteel Co. (NYSE:TMST – Get Rating) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 4,030,000 shares, a drop of 21.1% from the March 15th total of 5,110,000 shares. Approximately 10.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 833,900 shares, the short-interest ratio is presently 4.8 days.

Shares of TimkenSteel stock traded up $0.26 during midday trading on Tuesday, reaching $24.00. 10,733 shares of the company’s stock traded hands, compared to its average volume of 846,866. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 7.44 and a beta of 1.86. The company’s 50 day simple moving average is $19.72 and its 200 day simple moving average is $16.56. TimkenSteel has a 52 week low of $10.52 and a 52 week high of $24.17.

TimkenSteel (NYSE:TMST – Get Rating) last announced its earnings results on Thursday, February 24th. The basic materials company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.60 by $0.20. The firm had revenue of $338.30 million for the quarter, compared to the consensus estimate of $315.50 million. TimkenSteel had a net margin of 13.33% and a return on equity of 29.15%. The business’s quarterly revenue was up 60.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. As a group, research analysts expect that TimkenSteel will post 3.55 EPS for the current year.

A number of equities analysts recently commented on the stock. StockNews.com raised shares of TimkenSteel from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. KeyCorp raised their price objective on shares of TimkenSteel from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 16th. Finally, Zacks Investment Research upgraded shares of TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Wednesday, March 2nd.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Koshinski Asset Management Inc. bought a new position in TimkenSteel in the 4th quarter worth $41,000. Huntington National Bank grew its position in TimkenSteel by 72.4% in the 4th quarter. Huntington National Bank now owns 5,955 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 2,500 shares during the last quarter. Boston Partners acquired a new stake in TimkenSteel in the 3rd quarter worth $135,000. AXS Investments LLC acquired a new stake in TimkenSteel in the 4th quarter worth $172,000. Finally, Cetera Advisors LLC acquired a new stake in TimkenSteel in the 3rd quarter worth $140,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

TimkenSteel Company Profile (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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