Timkensteel Corp (TMST) Shares Fall After Soaring Last Week – Face Potential Fines for Safety Violations

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Shares of Timkensteel Corp (NYSE:TMST) have tumbled today, after the stock saw some very significant gains on a good earnings report late last week. Some have begun to speculate that perhaps the huge uptick in price following Thursday’s earnings report were not all that warranted. Regardless, investors appear to be less bullish today of the company.

Additionally, Timkensteel Corp (NYSE:TMST) is now facing fines of up to $129,500 after the Occupational Safety and Health Administration has investigated an accident where a worker fell over 40 feet from a crane. It’s just one of two accidents experienced by Timkensteel workers on cranes during 2015. The investigation showed that the cranes lacked some safety gear that could have prevented such a fall, and could result in additional capital expenditure to get up to par as far as safety goes.

The stock is down 22.86% or $2.06 following the news, hitting $6.95 per share. About 2.56M shares traded hands or 89.63% up from the average. TMST has declined 69.52% since June 25, 2015 and is downtrending. It has underperformed the S&P500 by 61.81%.

From a total of 3 analysts covering TimkenSteel (NYSE:TMST) stock, 0 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 0 of the ratings are positive. The highest target price is $28 while the lowest target price is $12. The mean of all analyst targets is $16 which is 130.22% above today’s ($6.95) stock price. TimkenSteel was the topic of 5 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Jefferies downgraded shares on January 13 to a “Hold” rating. Jefferies maintained shares with a”Buy” rating and a $20 target share price in their report from a September 16. KeyBanc Capital Markets initiated TMST stock in a recent report from August 31 with a “Sector Weight” rating.

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 has a market cap of $358.92 million. The Company’s portfolio includes special bar quality bars, seamless mechanical tubing and precision steel components. It currently has negative earnings. It operates in two divisions: Industrial & Mobile and Energy & Distribution.

#focuskw=’Timkensteel Corp (NYSE:TMST)’##metadesc=’Shares of Timkensteel Corp (NYSE:TMST) have tumbled today, after the stock saw some very significant gains on a good earnings report late last week. Some have begun to speculate that perhaps the huge uptick in price following Thursday’s earnings report were not all that warranted. Regardless, investors appear to be less bullish today of the company.

Additionally, Timkensteel Corp (NYSE:TMST) is now facing fines of up to $129,500 after the Occupational Safety and Health Administration has investigated an accident where a worker fell over 40 feet from a crane. It’s just one of two accidents experienced by Timkensteel workers on cranes during 2015. The investigation showed that the cranes lacked some safety gear that could have prevented such a fall, and could result in additional capital expenditure to get up to par as far as safety goes.

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