Short Interest in TimkenSteel Co. (NYSE:TMST) Declines By 43.8%

TimkenSteel Co. (NYSE:TMSTGet Rating) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 2,830,000 shares, a decrease of 43.8% from the April 15th total of 5,040,000 shares. Based on an average daily volume of 792,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 7.5% of the company’s shares are sold short.

Several equities analysts recently commented on the company. StockNews.com lowered TimkenSteel from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. KeyCorp boosted their price target on TimkenSteel from $24.00 to $27.00 and gave the company an “overweight” rating in a research report 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 for the company in a research report on Wednesday, March 2nd.

In other TimkenSteel news, Director Ken V. Garcia bought 3,685 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average cost of $17.93 per share, for a total transaction of $66,072.05. Following the completion of the purchase, the director now owns 44,020 shares of the company’s stock, valued at approximately $789,278.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners boosted its holdings in TimkenSteel by 55.1% in the fourth quarter. Boston Partners now owns 16,054 shares of the basic materials company’s stock valued at $265,000 after purchasing an additional 5,702 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in TimkenSteel by 4.3% in the third quarter. Goldman Sachs Group Inc. now owns 183,682 shares of the basic materials company’s stock valued at $2,402,000 after purchasing an additional 7,516 shares during the last quarter. Hsbc Holdings PLC purchased a new position in TimkenSteel in the third quarter valued at about $148,000. Two Sigma Investments LP raised its stake in TimkenSteel by 8.0% during 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 buying an additional 37,712 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in TimkenSteel by 311.7% during 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 buying an additional 259,832 shares in the last quarter. 75.88% of the stock is owned by institutional investors.

Shares of NYSE TMST traded up $1.70 on Friday, hitting $19.85. The company had a trading volume of 1,107,537 shares, compared to its average volume of 725,274. TimkenSteel has a 12-month low of $11.68 and a 12-month high of $24.99. The business has a 50 day moving average of $21.10 and a two-hundred day moving average of $17.47. The firm has a market capitalization of $925.61 million, a P/E ratio of 5.38 and a beta of 1.77.

TimkenSteel (NYSE:TMSTGet Rating) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. TimkenSteel had a return on equity of 31.05% and a net margin of 14.57%. The company had revenue of $352.00 million during the quarter. During the same period in the previous year, the company earned $0.43 EPS. TimkenSteel’s quarterly revenue was up 28.7% on a year-over-year basis. Equities research analysts predict that TimkenSteel will post 4.2 EPS for the current year.

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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