Beddow Capital Management Inc buys $6,837,645 stake in Timkensteel Corp (TMST)

Timkensteel Corp (TMST) : Beddow Capital Management Inc scooped up 186,900 additional shares in Timkensteel Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 728,960 shares of Timkensteel Corp which is valued at $6,837,645.Timkensteel Corp makes up approximately 2.59% of Beddow Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds reduced its stake in TMST by selling 13,918 shares or 24.28% in the most recent quarter. The Hedge Fund company now holds 43,408 shares of TMST which is valued at $407,167.Blackrock Institutional Trust Company N.a. reduced its stake in TMST by selling 1,670 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 930,576 shares of TMST which is valued at $8,728,803.Blackrock Advisors boosted its stake in TMST in the latest quarter, The investment management firm added 1,119 additional shares and now holds a total of 19,740 shares of Timkensteel Corp which is valued at $185,161.

Timkensteel Corp opened for trading at $10.09 and hit $10.24 on the upside on Tuesday, eventually ending the session at $10.05, with a gain of 0.50% or 0.05 points. The heightened volatility saw the trading volume jump to 3,69,394 shares. Company has a market cap of $444 M.

On the company’s financial health, Timkensteel Corp reported $-0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.28. The company had revenue of $223.10 million for the quarter, compared to analysts expectations of $234.22 million. The company’s revenue was down -19.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.54 EPS.

Many Wall Street Analysts have commented on Timkensteel Corp. Company shares were Reiterated by Cowen on Jun 1, 2016 to “Market Perform”, Firm has raised the Price Target to $ 13 from a previous price target of $8 .

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 (SBQ) 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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