News

Jan 11, 2024

Principal Financial Group Inc. Sells 8,550 Shares of TimkenSteel Co. (NYSE:TMST)

Principal Financial Group Inc. lowered its position in TimkenSteel Co.

Principal Financial Group Inc. lowered its position in TimkenSteel Co. (NYSE:TMST - Get Rating) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,912 shares of the basic materials company's stock after selling 8,550 shares during the period. Principal Financial Group Inc. owned about 0.58% of TimkenSteel worth $4,686,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in TimkenSteel by 107.4% during the third quarter. Russell Investments Group Ltd. now owns 156,005 shares of the basic materials company's stock valued at $2,337,000 after purchasing an additional 80,786 shares in the last quarter. Brown Advisory Inc. lifted its position in TimkenSteel by 26.0% during the third quarter. Brown Advisory Inc. now owns 92,850 shares of the basic materials company's stock valued at $1,392,000 after purchasing an additional 19,162 shares in the last quarter. Renaissance Technologies LLC lifted its position in TimkenSteel by 1.3% during the third quarter. Renaissance Technologies LLC now owns 715,346 shares of the basic materials company's stock valued at $10,723,000 after purchasing an additional 8,900 shares in the last quarter. Pacer Advisors Inc. lifted its position in TimkenSteel by 17.6% during the fourth quarter. Pacer Advisors Inc. now owns 721,864 shares of the basic materials company's stock valued at $13,116,000 after purchasing an additional 108,147 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in TimkenSteel during the third quarter valued at $267,000. Institutional investors own 81.38% of the company's stock.

Shares of TimkenSteel stock opened at $17.28 on Wednesday. The stock's 50-day simple moving average is $17.54 and its 200-day simple moving average is $18.25. TimkenSteel Co. has a 52 week low of $14.09 and a 52 week high of $26.23. The company has a market capitalization of $758.25 million, a price-to-earnings ratio of 25.41, a PEG ratio of 0.68 and a beta of 1.71.

TimkenSteel (NYSE:TMST - Get Rating) last announced its quarterly earnings data on Friday, May 5th. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.18 by $0.26. The business had revenue of $323.50 million for the quarter, compared to the consensus estimate of $309.20 million. TimkenSteel had a return on equity of 11.03% and a net margin of 3.26%. The business's revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities analysts expect that TimkenSteel Co. will post 1.75 earnings per share for the current year.

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

TimkenSteel Corp. engages in the manufacture of alloy, carbon and micro-alloy steel products. The firm's products includes special bar quality steel, seamless mechanical tubing, gears, grades of steel, jumbo bloom vertical caster, TimkenSteel ultrapremium technology, and TimkenSteel endurance steels.

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