Zacks Investment Research upgraded shares of Timkensteel (NYSE:TMST) from a strong sell rating to a hold rating in a report released on Thursday morning.

According to Zacks, “TimkenSteel Corporation engages in manufacturing alloy steel, as well as carbon and micro-alloy steel. The company provides air-melted alloy steel bars, tubes, and precision components, as well as value-added services, including thermal treatment and machining. Its customers include companies in the market sectors: oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defence; heavy truck; agriculture, and power generation. TimkenSteel Corporation is headquartered in Canton, Ohio. “

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Timkensteel from a sell rating to a hold rating in a research report on Tuesday, October 3rd. Jefferies Group reaffirmed a hold rating and set a $18.00 price objective on shares of Timkensteel in a report on Sunday, October 29th. JPMorgan Chase & Co. assumed coverage on shares of Timkensteel in a report on Wednesday, October 4th. They set a neutral rating and a $17.00 price objective for the company. ValuEngine lowered shares of Timkensteel from a hold rating to a sell rating in a report on Tuesday, October 31st. Finally, KeyCorp lowered shares of Timkensteel from a sector weight rating to an underweight rating and set a $12.00 price objective for the company. in a report on Wednesday, December 6th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $17.20.

Shares of Timkensteel (NYSE TMST) traded up $0.82 on Thursday, hitting $18.52. 611,913 shares of the stock were exchanged, compared to its average volume of 457,242. The company has a market cap of $823.07, a price-to-earnings ratio of -10.64 and a beta of 2.25. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Timkensteel has a 1 year low of $12.48 and a 1 year high of $23.00.

Timkensteel (NYSE:TMST) last issued 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). The company had revenue of $339.10 million for the quarter, compared to analysts’ expectations of $351.50 million. Timkensteel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.38) earnings per share. equities research analysts forecast that Timkensteel will post -0.56 EPS for the current year.

In related news, insider Tina M. Beskid sold 2,548 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.10% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Trexquant Investment LP acquired a new position in shares of Timkensteel in the 3rd quarter valued at $179,000. BNP Paribas Arbitrage SA lifted its stake in shares of Timkensteel by 52.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after purchasing an additional 4,327 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Timkensteel in the 3rd quarter valued at $212,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Timkensteel in the 3rd quarter valued at $223,000. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Timkensteel by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the basic materials company’s stock valued at $242,000 after purchasing an additional 5,420 shares during the last quarter. Institutional investors own 72.62% of the company’s stock.

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About Timkensteel

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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