Municipal Employees Retirement System of Michigan Has $242,000 Position in Timken Steel Corporation (TMST)
Municipal Employees Retirement System of Michigan increased its position in shares of Timken Steel Corporation (NYSE:TMST) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,650 shares of the basic materials company’s stock after acquiring an additional 5,420 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Timken Steel were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in Timken Steel by 64.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,821 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 8,167 shares during the period. Teton Advisors Inc. grew its stake in Timken Steel by 7.6% in the 3rd quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock worth $2,340,000 after buying an additional 10,000 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Timken Steel by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,147,176 shares of the basic materials company’s stock worth $18,928,000 after buying an additional 31,724 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Timken Steel in the 3rd quarter worth approximately $212,000. Finally, Nationwide Fund Advisors grew its stake in Timken Steel by 97.2% in the 3rd quarter. Nationwide Fund Advisors now owns 65,973 shares of the basic materials company’s stock worth $1,089,000 after buying an additional 32,526 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Tina M. Beskid sold 2,548 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $13.68, for a total value of $34,856.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by corporate insiders.
Shares of Timken Steel Corporation (NYSE:TMST) traded up $0.03 during trading on Wednesday, hitting $13.54. 260,500 shares of the stock were exchanged, compared to its average volume of 506,377. Timken Steel Corporation has a 12 month low of $12.48 and a 12 month high of $23.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.21 and a quick ratio of 1.05.
Timken Steel (NYSE:TMST) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The business had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same period last year, the company posted ($0.38) EPS. Timken Steel’s revenue for the quarter was up 58.6% on a year-over-year basis. equities research analysts forecast that Timken Steel Corporation will post -0.56 EPS for the current year.
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About Timken Steel
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.
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