Timkensteel Corp (NYSE:TMST) shot up 18.5% on Thursday following a stronger than expected earnings report. The company traded as high as $7.33 and last traded at $7.19, 769,286 shares were traded during trading. An increase of 138% from the average session volume of 322,560 shares. The stock had previously closed at $6.07.

The basic materials company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.35. Timkensteel had a negative net margin of 2.52% and a positive return on equity of 0.99%. The business had revenue of $274.20 million for the quarter, compared to analyst estimates of $293.67 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was down 33.1% on a year-over-year basis.

A number of brokerages recently commented on TMST. ValuEngine upgraded shares of Timkensteel from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cowen restated a “market perform” rating and set a $7.50 price objective (down from $8.25) on shares of Timkensteel in a report on Tuesday, August 6th. Zacks Investment Research lowered shares of Timkensteel from a “hold” rating to a “sell” rating in a report on Saturday, July 13th. G.Research restated a “buy” rating on shares of Timkensteel in a report on Tuesday, August 6th. Finally, Gabelli restated a “buy” rating on shares of Timkensteel in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Timkensteel presently has a consensus rating of “Hold” and an average price target of $9.25.

In other Timkensteel news, CEO Ward J. Timken, Jr. purchased 10,000 shares of the stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $5.83 per share, for a total transaction of $58,300.00. Following the purchase, the chief executive officer now owns 197,712 shares of the company’s stock, valued at $1,152,660.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ward J. Timken, Jr. purchased 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $4.94 per share, for a total transaction of $74,100.00. Following the completion of the purchase, the chief executive officer now directly owns 197,712 shares in the company, valued at approximately $976,697.28. The disclosure for this purchase can be found here. Insiders acquired a total of 26,250 shares of company stock worth $138,763 over the last quarter. Company insiders own 8.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of TMST. Metropolitan Life Insurance Co NY increased its stake in Timkensteel by 34.0% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 13,135 shares of the basic materials company’s stock valued at $142,000 after buying an additional 3,331 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Timkensteel by 18.2% during the 2nd quarter. WINTON GROUP Ltd now owns 44,485 shares of the basic materials company’s stock worth $362,000 after purchasing an additional 6,840 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Timkensteel by 6.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 31,390 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 1,808 shares during the last quarter. KBC Group NV acquired a new position in shares of Timkensteel during the 2nd quarter worth about $114,000. Finally, Aperio Group LLC increased its stake in shares of Timkensteel by 72.6% during the 2nd quarter. Aperio Group LLC now owns 39,825 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 16,748 shares during the last quarter. Hedge funds and other institutional investors own 70.82% of the company’s stock.

The company has a market capitalization of $284.58 million, a price-to-earnings ratio of 66.91 and a beta of 2.47. The firm’s 50 day moving average price is $6.03 and its two-hundred day moving average price is $7.08. The company has a current ratio of 3.11, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38.

Timkensteel Company Profile (NYSE:TMST)

TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide. The company offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets; and precision steel components, as well as supplies machining and thermal treatment services. It also manages raw material recycling programs.

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