TimkenSteel (NYSE:TMST) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of TimkenSteel (NYSE:TMST) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the basic materials company’s stock.

TimkenSteel Price Performance

Shares of TMST opened at $20.40 on Tuesday. The company has a market capitalization of $880.26 million, a PE ratio of 30.00, a price-to-earnings-growth ratio of 0.70 and a beta of 1.51. TimkenSteel has a one year low of $15.59 and a one year high of $24.30. The company’s fifty day moving average price is $20.55 and its 200 day moving average price is $20.95.

Insider Transactions at TimkenSteel

In other news, EVP Kevin A. Raketich sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.19, for a total transaction of $40,380.00. Following the transaction, the executive vice president now owns 89,256 shares in the company, valued at approximately $1,802,078.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Kristopher R. Westbrooks sold 11,812 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $20.62, for a total transaction of $243,563.44. Following the transaction, the chief financial officer now directly owns 171,463 shares in the company, valued at $3,535,567.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin A. Raketich sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.19, for a total transaction of $40,380.00. Following the transaction, the executive vice president now owns 89,256 shares in the company, valued at $1,802,078.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,465 shares of company stock worth $507,846. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TimkenSteel

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its position in shares of TimkenSteel by 6.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,238 shares of the basic materials company’s stock worth $355,000 after acquiring an additional 986 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of TimkenSteel by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 510,965 shares of the basic materials company’s stock worth $11,179,000 after acquiring an additional 45,959 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of TimkenSteel by 12.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,929 shares of the basic materials company’s stock worth $414,000 after acquiring an additional 2,082 shares in the last quarter. HighTower Advisors LLC increased its position in shares of TimkenSteel by 34.1% during the first quarter. HighTower Advisors LLC now owns 79,863 shares of the basic materials company’s stock worth $1,748,000 after acquiring an additional 20,310 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of TimkenSteel by 11.4% during the first quarter. Citigroup Inc. now owns 35,712 shares of the basic materials company’s stock worth $781,000 after acquiring an additional 3,643 shares in the last quarter. 78.28% of the stock is owned by institutional investors.

TimkenSteel Company Profile

TimkenSteel Corporation engages in manufacture and sale of 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. Its 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.