TimkenSteel (NYSE:TMST) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

TimkenSteel (NYSE:TMSTGet Rating) posted its earnings results on Wednesday. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11, MarketWatch Earnings reports. TimkenSteel had a return on equity of 32.12% and a net margin of 14.57%. The firm had revenue of $352.00 million for the quarter. During the same period last year, the firm posted $0.43 earnings per share. TimkenSteel’s quarterly revenue was up 28.7% on a year-over-year basis.

Shares of NYSE:TMST traded down $0.07 during midday trading on Friday, reaching $18.21. 651,906 shares of the company’s stock traded hands, compared to its average volume of 632,140. The company has a market cap of $844.58 million, a price-to-earnings ratio of 4.93 and a beta of 1.77. TimkenSteel has a one year low of $11.68 and a one year high of $24.99. The stock has a 50 day moving average of $21.18 and a 200 day moving average of $17.24.

Large investors have recently made changes to their positions in the company. Guggenheim Capital LLC increased its position in TimkenSteel by 7.0% during the fourth quarter. Guggenheim Capital LLC now owns 18,702 shares of the basic materials company’s stock valued at $309,000 after acquiring an additional 1,229 shares during the last quarter. California State Teachers Retirement System increased its position in TimkenSteel by 2.9% during the fourth quarter. California State Teachers Retirement System now owns 25,258 shares of the basic materials company’s stock valued at $417,000 after acquiring an additional 718 shares during the last quarter. Citigroup Inc. increased its position in TimkenSteel by 20.9% during the fourth quarter. Citigroup Inc. now owns 32,069 shares of the basic materials company’s stock valued at $529,000 after acquiring an additional 5,542 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in TimkenSteel by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 37,265 shares of the basic materials company’s stock valued at $615,000 after acquiring an additional 2,024 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in TimkenSteel by 32.2% during the fourth quarter. State of Tennessee Treasury Department now owns 39,562 shares of the basic materials company’s stock valued at $653,000 after acquiring an additional 9,639 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on TMST. StockNews.com raised TimkenSteel from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. KeyCorp upped their price target on TimkenSteel from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Finally, Zacks Investment Research raised TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, March 2nd.

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.

See Also

Earnings History for TimkenSteel (NYSE:TMST)

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