Force Capital Management Exits Position in Timkensteel Corp (TMST)
Resource from: The Sussex Pilot Likes:168
Apr 06,2016
Timkensteel Corp (TMST) : Force Capital Management has sold out all of its stake in Timkensteel Corp during the Q4 period, according to the information disclosed to the SEC. The investment management company has sold out 235,448 shares of Timkensteel Corp which is valued at $2.2 Million.
Other Hedge Funds, Including , Perkins Investment Management sold out all of its stake in TMST during the fourth quarter. The investment firm sold 824,257 shares of TMST which is valued $7.6 Million.Van Eck Associates Corp reduced its stake in TMST by selling 4,052 shares or 8.01% during the fourth quarter. The Hedge Fund company now holds 46,505 shares of TMST which is valued at $427,381. Bogle Investment Management L P De added TMST to its portfolio by purchasing 407,075 company shares during the Fourth Quarter which is valued at $3.7 Million. Timkensteel Corp makes up approx 0.27% of Bogle Investment Management L P De’s portfolio. Cortina Asset Management sold out all of its stake in TMST during the fourth quarter. The investment firm sold 171,367 shares of TMST which is valued $1.6 Million.Blackrock Institutional Trust Company N.a. boosted its stake in TMST during the Q4 period, The investment management firm added 16,020 additional shares and now holds a total of 931,099 shares of Timkensteel Corp which is valued at $8.6 Million.
On the company’s financial health, Timkensteel Corp reported $-0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $-0.68. The company had revenue of $206.60 million for the quarter, compared to analysts expectations of $191.33 million. The company’s revenue was down -49.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.
Many Wall Street Analysts have commented on Timkensteel Corp. Shares were Reiterated by Cowen on Feb 3, 2016 to “Market Perform” and Lowered the Price Target to $ 8 from a previous price target of $12 .Timkensteel Corp was Downgraded by Jefferies to ” Hold” on Jan 13, 2016.
Timkensteel Corp closed down -0.44 points or -4.78% at $8.77 with 4,65,137 shares getting traded on Monday. Post opening the session at $9.24, the shares hit an intraday low of $8.73 and an intraday high of $9.46 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.
(The Sussex Pilot)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous Earthmill Expands With New Wind Turbine Management Division
Next Trelleborg Sealing Solutions Appoints President of Marketing Americas
Next Trelleborg Sealing Solutions Appoints President of Marketing Americas
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
