New York State Teachers Retirement System Has $1.25 Million Position in TimkenSteel Co. (NYSE:TMST)

New York State Teachers Retirement System trimmed its position in shares of TimkenSteel Co. (NYSE:TMST – Get Rating) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,659 shares of the basic materials company’s stock after selling 3,079 shares during the quarter. New York State Teachers Retirement System owned approximately 0.18% of TimkenSteel worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMST. Nisa Investment Advisors LLC increased its holdings in TimkenSteel by 150.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 1,200 shares during the period. KBC Group NV bought a new stake in TimkenSteel in the second quarter valued at approximately $69,000. J.W. Cole Advisors Inc. acquired a new stake in TimkenSteel during the 1st quarter valued at approximately $72,000. Shell Asset Management Co. bought a new position in TimkenSteel during the 2nd quarter worth approximately $78,000. Finally, Point72 Hong Kong Ltd bought a new position in TimkenSteel during the 1st quarter worth approximately $81,000. 81.38% of the stock is currently owned by institutional investors.

TimkenSteel Price Performance

NYSE TMST opened at $19.19 on Friday. The stock has a market capitalization of $853.36 million, a P/E ratio of 6.62 and a beta of 1.70. The business has a 50 day simple moving average of $18.49 and a 200 day simple moving average of $17.35. TimkenSteel Co. has a one year low of $12.67 and a one year high of $26.23.

TimkenSteel (NYSE:TMST – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.34). The business had revenue of $316.80 million for the quarter, compared to the consensus estimate of $335.65 million. TimkenSteel had a return on equity of 21.48% and a net margin of 10.92%. Equities analysts expect that TimkenSteel Co. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of TimkenSteel in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

TimkenSteel Company Profile

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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.