Timkensteel Corp (TMST) : Macnealy Hoover Investment Management Inc reduced its stake in Timkensteel Corp by 0.53% during the most recent quarter end. The investment management company now holds a total of 177,212 shares of Timkensteel Corp which is valued at $1,887,308 after selling 950 shares in Timkensteel Corp , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Timkensteel Corp makes up approximately 0.35% of Macnealy Hoover Investment Management Inc’s portfolio.
Other Hedge Funds, Including , Cutler Group Lp boosted its stake in TMST in the latest quarter, The investment management firm added 3,978 additional shares and now holds a total of 10,510 shares of Timkensteel Corp which is valued at $111,932. Timkensteel Corp makes up approx 0.01% of Cutler Group Lp’s portfolio. Simplex Trading sold out all of its stake in TMST during the most recent quarter. The investment firm sold 11,594 shares of TMST which is valued $119,534.Bnp Paribas Arbitrage Sa reduced its stake in TMST by selling 6,003 shares or 46.52% in the most recent quarter. The Hedge Fund company now holds 6,900 shares of TMST which is valued at $71,415.
Timkensteel Corp closed down -0.39 points or -3.66% at $10.26 with 3,87,198 shares getting traded on Tuesday. Post opening the session at $10.55, the shares hit an intraday low of $9.94 and an intraday high of $10.62 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.
TimkenSteel Corporation manufactures alloy steel as well as carbon and micro-alloy steel with an annual melt capacity of approximately two million tons. The Companys 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 Companys 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 Companys 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.