Timkensteel Corp (TMST) CEO Acquires $98,400.00 in Stock
Resource from: 4 Traders 02 Dec,2015
Timkensteel Corp (NYSE:TMST) CEO Ward J. Timken, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 24th. The stock was purchased at an average price of $9.84 per share, for a total transaction of $98,400.00. Following the purchase, the chief executive officer now owns 105,527 shares in the company, valued at $1,038,385.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Timkensteel Corp (NYSE:TMST) opened at 10.29 on Tuesday. Timkensteel Corp has a 52 week low of $9.30 and a 52 week high of $37.47. The stock’s 50 day moving average price is $11.65 and its 200 day moving average price is $19.00. The stock’s market cap is $454.74 million.
Timkensteel Corp (NYSE:TMST) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($0.69) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.10. During the same period last year, the company earned $0.56 EPS. The business earned $232.70 million during the quarter, compared to analyst estimates of $253.39 million. The business’s revenue for the quarter was down 46.4% on a year-over-year basis. On average, analysts forecast that Timkensteel Corp will post ($1.75) earnings per share for the current year.
Several equities research analysts recently issued reports on the stock. KeyBanc assumed coverage on shares of Timkensteel Corp in a report on Monday, August 31st. They set a “sector weight” rating for the company. Jefferies Group reiterated a “buy” rating and set a $20.00 target price on shares of Timkensteel Corp in a research report on Tuesday, September 15th. Cowen and Company downgraded Timkensteel Corp from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $28.00 to $12.00 in a research report on Monday, September 14th. Finally, Zacks Investment Research upgraded Timkensteel Corp from a “sell” rating to a “hold” rating in a research report on Friday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.00.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (NYSE:TMST) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are used as a feeder system for the Company’s operations. Its customers are companies in the market sectors, including oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture, and power generation. The Company’s steels are featured in a variety of end products, including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts, and anti-friction bearings, among others.
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