TimkenSteel Co. (NYSE:TMST) Short Interest Update

TimkenSteel Co. (NYSE:TMST) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 5,130,000 shares, a decrease of 17.8% from the March 31st total of 6,240,000 shares. Currently, 13.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 3.1 days.

NYSE:TMST traded up $0.41 during trading on Tuesday, reaching $13.15. The company’s stock had a trading volume of 1,382,733 shares, compared to its average volume of 1,430,411. TimkenSteel has a 12 month low of $2.31 and a 12 month high of $13.59. The firm has a market cap of $599.67 million, a price-to-earnings ratio of -4.41 and a beta of 1.91. The firm has a 50 day moving average of $11.29 and a 200-day moving average of $6.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 1.69.

TimkenSteel (NYSE:TMST) last issued its quarterly earnings results on Thursday, February 25th. The basic materials company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.21. TimkenSteel had a negative net margin of 15.79% and a negative return on equity of 13.08%. The company had revenue of $211.20 million for the quarter, compared to the consensus estimate of $216.80 million. Equities research analysts forecast that TimkenSteel will post -1.09 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of TimkenSteel by 4.8% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in TimkenSteel by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 988,550 shares of the basic materials company’s stock valued at $4,617,000 after purchasing an additional 76,818 shares during the period. Assenagon Asset Management S.A. increased its position in TimkenSteel by 271.0% in 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 buying an additional 580,061 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of TimkenSteel by 89.7% in the fourth quarter. Renaissance Technologies LLC now owns 565,946 shares of the basic materials company’s stock valued at $2,643,000 after buying an additional 267,677 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of TimkenSteel by 12.2% during the 4th quarter. Nuveen Asset Management LLC now owns 274,050 shares of the basic materials company’s stock valued at $1,280,000 after buying an additional 29,733 shares during the last quarter. 58.85% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on TMST shares. KeyCorp raised their price objective on TimkenSteel from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Monday, March 15th. Zacks Investment Research lowered shares of TimkenSteel from a “buy” rating to a “hold” rating in a research report on Friday, March 19th. Finally, TheStreet raised shares of TimkenSteel from a “d+” rating to a “c-” rating in a research report on Wednesday, April 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.50.

TimkenSteel Company Profile

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.

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