TimkenSteel (NYSE:TMST) Sets New 52-Week High Following Analyst Upgrade

TimkenSteel Co. (NYSE:TMST) reached a new 52-week high during trading on Monday after KeyCorp raised their price target on the stock from $12.00 to $16.00. KeyCorp currently has an overweight rating on the stock. TimkenSteel traded as high as $15.76 and last traded at $15.56, with a volume of 30848 shares trading hands. The stock had previously closed at $14.34.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of TimkenSteel from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Friday. TheStreet upgraded shares of TimkenSteel from a “d+” rating to a “c-” rating in a research note on Wednesday, April 21st. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $12.17.

In other TimkenSteel news, Director Randall H. Edwards sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $15.40, for a total transaction of $56,210.00. Following the sale, the director now owns 85,430 shares of the company’s stock, valued at $1,315,622. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in TimkenSteel by 238.3% during the fourth quarter. Citigroup Inc. now owns 11,056 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 7,788 shares in the last quarter. BlackRock Inc. raised its holdings in TimkenSteel by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,457,322 shares of the basic materials company’s stock worth $30,156,000 after purchasing an additional 295,546 shares in the last quarter. ProShare Advisors LLC acquired a new stake in TimkenSteel during the fourth quarter worth approximately $50,000. Assenagon Asset Management S.A. raised its holdings in TimkenSteel by 271.0% during the first quarter. Assenagon Asset Management S.A. now owns 794,087 shares of the basic materials company’s stock worth $9,331,000 after purchasing an additional 580,061 shares in the last quarter. Finally, Credit Suisse AG acquired a new stake in TimkenSteel during the fourth quarter worth approximately $70,000. 58.85% of the stock is currently owned by institutional investors.

The company has a quick ratio of 0.84, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $12.17 and its two-hundred day simple moving average is $7.66. The company has a market cap of $725.76 million, a price-to-earnings ratio of -5.33 and a beta of 1.91.

TimkenSteel (NYSE:TMST) last announced its earnings results on Thursday, May 6th. The basic materials company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. TimkenSteel had a negative net margin of 15.79% and a negative return on equity of 13.08%. Sell-side analysts predict that TimkenSteel Co. will post -1.09 EPS for the current fiscal year.

About TimkenSteel (NYSE:TMST)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. The company operates in SBQ Steel Bar, Seamless Mechanical Steel Tubes, and Billets; and Value-added Precision Products and Services segments. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services.

Featured Article: Why is cost of goods sold important?

Receive News & Ratings for TimkenSteel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TimkenSteel and related companies with MarketBeat.com's FREE daily email newsletter.