Royce & Associates LP Increases Position in Timken Steel Corporation (TMST)

Royce & Associates LP boosted its position in shares of Timken Steel Corporation (NYSE:TMST) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,139,301 shares of the basic materials company’s stock after buying an additional 42,000 shares during the period. Royce & Associates LP owned approximately 2.56% of Timken Steel worth $18,798,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TMST. Northern Trust Corp lifted its stake in shares of Timken Steel by 1.9% in the 2nd quarter. Northern Trust Corp now owns 928,001 shares of the basic materials company’s stock valued at $14,263,000 after purchasing an additional 16,961 shares during the last quarter. Aperio Group LLC lifted its stake in shares of Timken Steel by 31.0% in the 2nd quarter. Aperio Group LLC now owns 25,156 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 5,954 shares during the last quarter. Teton Advisors Inc. lifted its stake in shares of Timken Steel by 7.6% in the 3rd quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock valued at $2,340,000 after purchasing an additional 10,000 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Timken Steel by 36.5% in the 2nd quarter. Citigroup Inc. now owns 45,755 shares of the basic materials company’s stock valued at $703,000 after purchasing an additional 12,239 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Timken Steel by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,332,660 shares of the basic materials company’s stock valued at $51,223,000 after purchasing an additional 77,821 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Shares of Timken Steel Corporation (NYSE TMST) traded up $0.16 during midday trading on Monday, hitting $13.47. The stock had a trading volume of 344,600 shares, compared to its average volume of 508,414. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Timken Steel Corporation has a 12-month low of $12.48 and a 12-month high of $23.00.

Timken Steel (NYSE:TMST) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.05). Timken Steel had a negative return on equity of 12.92% and a negative net margin of 6.39%. The business had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same quarter in the previous year, the company posted ($0.38) earnings per share. The company’s quarterly revenue was up 58.6% compared to the same quarter last year. equities research analysts anticipate that Timken Steel Corporation will post -0.56 earnings per share for the current year.

In other news, insider Tina M. Beskid sold 2,548 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $13.68, for a total value of $34,856.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.10% of the company’s stock.

Several equities research analysts have recently issued reports on TMST shares. Jefferies Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Timken Steel in a research note on Sunday, October 29th. J P Morgan Chase & Co started coverage on Timken Steel in a research note on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price objective for the company. BidaskClub raised Timken Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine lowered Timken Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Cowen reaffirmed a “buy” rating on shares of Timken Steel in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.20.

TRADEMARK VIOLATION WARNING: This article was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://transcriptdaily.com/2017/12/11/royce-associates-lp-increases-position-in-timken-steel-corporation-tmst.html.

Timken Steel Company Profile

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.

Institutional Ownership by Quarter for Timken Steel (NYSE:TMST)

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

Leave a Reply