Jefferies Financial Group reaffirmed their hold rating on shares of Timkensteel (NYSE:TMST) in a report issued on Friday, July 27th. They currently have a $17.00 price objective on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on TMST. ValuEngine cut shares of Timkensteel from a buy rating to a hold rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Timkensteel from a sell rating to a hold rating in a report on Thursday, March 29th. Finally, KeyCorp increased their price target on shares of Timkensteel from $19.00 to $20.00 and gave the company an overweight rating in a report on Thursday, June 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Timkensteel presently has an average rating of Hold and a consensus price target of $17.50.
Shares of Timkensteel traded up $0.30, hitting $13.59, during midday trading on Friday, MarketBeat.com reports. 455,972 shares of the stock traded hands, compared to its average volume of 448,437. Timkensteel has a one year low of $12.54 and a one year high of $20.24. The company has a quick ratio of 0.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.39.
Timkensteel (NYSE:TMST) last announced its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.11). The company had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $419.33 million. Timkensteel had a negative net margin of 2.29% and a negative return on equity of 5.79%. Timkensteel’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. equities analysts expect that Timkensteel will post 0.28 earnings per share for the current year.
In other Timkensteel news, VP Tina M. Beskid sold 2,361 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $17.33, for a total value of $40,916.13. Following the transaction, the vice president now directly owns 20,303 shares in the company, valued at $351,850.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Timkensteel by 33.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 25,259 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 6,366 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Timkensteel during the second quarter valued at $150,000. Penn Capital Management Co. Inc. purchased a new position in Timkensteel during the second quarter valued at $3,033,000. Principal Financial Group Inc. grew its stake in Timkensteel by 2.7% during the first quarter. Principal Financial Group Inc. now owns 299,991 shares of the basic materials company’s stock valued at $4,557,000 after acquiring an additional 7,786 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Timkensteel by 26.9% in the 1st quarter. Legal & General Group Plc now owns 94,189 shares of the basic materials company’s stock worth $1,416,000 after buying an additional 19,989 shares in the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.