TimkenSteel Co. (NYSE:TMST) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its stake in TimkenSteel Co. (NYSE:TMST – Get Rating) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,861 shares of the basic materials company’s stock after selling 2,131 shares during the period. Shell Asset Management Co.’s holdings in TimkenSteel were worth $143,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp lifted its position in shares of TimkenSteel by 30.4% during the 1st quarter. State Street Corp now owns 3,715,946 shares of the basic materials company’s stock valued at $81,305,000 after acquiring an additional 865,868 shares during the period. Vanguard Group Inc. lifted its holdings in shares of TimkenSteel by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,705,127 shares of the basic materials company’s stock valued at $55,541,000 after acquiring an additional 32,008 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in TimkenSteel by 7.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,162,552 shares of the basic materials company’s stock worth $47,407,000 after buying an additional 224,931 shares in the last quarter. Invesco Ltd. increased its position in shares of TimkenSteel by 26.7% in the 1st quarter. Invesco Ltd. now owns 1,399,149 shares of the basic materials company’s stock worth $30,614,000 after purchasing an additional 294,913 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in shares of TimkenSteel by 0.7% during the 3rd quarter. Systematic Financial Management LP now owns 1,051,839 shares of the basic materials company’s stock valued at $15,767,000 after buying an additional 7,822 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

TimkenSteel Stock Performance

NYSE:TMST opened at $16.80 on Friday. The company has a market capitalization of $737.18 million, a price-to-earnings ratio of 24.71 and a beta of 1.71. TimkenSteel Co. has a 52 week low of $14.09 and a 52 week high of $26.23. The company has a 50-day moving average of $17.54 and a 200-day moving average of $18.27.

TimkenSteel (NYSE:TMST – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.26. TimkenSteel had a net margin of 3.26% and a return on equity of 11.03%. The company had revenue of $323.50 million for the quarter, compared to the consensus estimate of $309.20 million. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was down 8.1% compared to the same quarter last year. Sell-side analysts forecast that TimkenSteel Co. will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of TimkenSteel in a research note on Thursday, March 16th. They set a “hold” rating for the company.

About TimkenSteel

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TimkenSteel Corp. engages in the manufacture of alloy, carbon and micro-alloy steel products. The firm’s products includes special bar quality steel, seamless mechanical tubing, gears, grades of steel, jumbo bloom vertical caster, TimkenSteel ultrapremium technology, and TimkenSteel endurance steels.