News

Sep 27, 2023

TimkenSteel (NYSE:TMST) Posts Quarterly Earnings Results

TimkenSteel (NYSE:TMST - Get Free Report) posted its earnings results on Thursday. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates

TimkenSteel (NYSE:TMST - Get Free Report) posted its earnings results on Thursday. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03, Briefing.com reports. The business had revenue of $356.60 million for the quarter, compared to analyst estimates of $357.50 million. TimkenSteel had a return on equity of 11.03% and a net margin of 3.26%. The firm's revenue was down 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS.

NYSE:TMST traded down $1.39 during trading hours on Friday, hitting $20.74. The company's stock had a trading volume of 451,505 shares, compared to its average volume of 354,147. The stock has a fifty day simple moving average of $20.71 and a 200-day simple moving average of $19.07. The company has a market capitalization of $910.07 million, a P/E ratio of 30.57, a PEG ratio of 0.86 and a beta of 1.80. TimkenSteel has a twelve month low of $14.09 and a twelve month high of $23.49.

Separately, StockNews.com assumed coverage on TimkenSteel in a report on Thursday, May 18th. They set a "hold" rating on the stock.

Several large investors have recently bought and sold shares of TMST. Tower Research Capital LLC TRC boosted its stake in shares of TimkenSteel by 148.7% during the first quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 941 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of TimkenSteel by 58.7% during the third quarter. Public Employees Retirement System of Ohio now owns 3,067 shares of the basic materials company's stock worth $46,000 after acquiring an additional 1,135 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of TimkenSteel during the first quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of TimkenSteel during the second quarter worth about $84,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of TimkenSteel during the third quarter worth about $174,000. 79.09% of the stock is owned by institutional investors and hedge funds.

TimkenSteel Corporation engages in manufacture and sale of alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets. Its products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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