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TMST TimkenSteel

TimkenSteel manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-qualitysteel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of its customers' products. The company employs approximately 2,000 people and had sales of $831 million in 2020.

Company profile

Ticker
TMST
Exchange
CEO
Terry Dunlap
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Percentage of voting securities owned directly or indirectly by Company • TimkenSteel de Mexico • TimkenSteel (Shanghai) Corporation ...
IRS number
464024951

TMST stock data

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Calendar

5 Aug 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from TimkenSteel earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 115.2M 115.2M 115.2M 115.2M 115.2M 115.2M
Cash burn (monthly) 166.67K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 621.85K n/a n/a n/a n/a n/a
Cash remaining 114.58M n/a n/a n/a n/a n/a
Runway (months of cash) 687.5 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Sep 21 Ken V Garcia Phantom Shares Common Shares Grant Acquire A No No 13.08 1,529 20K 1,529
24 Sep 21 Kristopher R Westbrooks Common Shares Payment of exercise Dispose F No No 13.13 2,246 29.49K 138,104
12 Aug 21 Ken V Garcia Common Shares Grant Acquire A No No 0 7,830 0 7,830

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 175 152 +15.1%
Opened positions 40 36 +11.1%
Closed positions 17 16 +6.3%
Increased positions 41 40 +2.5%
Reduced positions 68 50 +36.0%
13F shares
Current Prev Q Change
Total value 734.7M 705.36M +4.2%
Total shares 37.91M 35.87M +5.7%
Total puts 32.7K 46.3K -29.4%
Total calls 243K 352.6K -31.1%
Total put/call ratio 0.1 0.1 +2.5%
Largest owners
Shares Value Change
BLK Blackrock 6.76M $95.64M -0.1%
STT State Street 4.21M $59.56M +227.7%
Vanguard 3.78M $53.53M +16.5%
Dimensional Fund Advisors 2.82M $39.96M +3.3%
Linden Capital 2.35M $41.57M 0.0%
Royce & Associates 1.23M $17.34M +13.4%
IVZ Invesco 1.12M $15.89M +29.7%
Timken Foundation of Canton 1.12M $8.93M 0.0%
D. E. Shaw & Co. 891.44K $12.61M -30.0%
Two Sigma Advisers 817.6K $11.57M +0.9%
Largest transactions
Shares Bought/sold Change
STT State Street 4.21M +2.92M +227.7%
Monarch Partners Asset Management 731.59K +731.59K NEW
Assenagon Asset Management 154.4K -639.68K -80.6%
Systematic Financial Management 627.39K +627.39K NEW
Vanguard 3.78M +535.88K +16.5%
Millennium Management 16.87K -527.62K -96.9%
MS Morgan Stanley 388.67K -527.14K -57.6%
Two Sigma Investments 470.51K -421.86K -47.3%
D. E. Shaw & Co. 891.44K -382.75K -30.0%
Jacobs Levy Equity Management 49.43K -357.08K -87.8%

Financial report summary

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Risks
  • Competition in the steel industry, together with potential global overcapacity, could result in significant pricing pressure for our products.
  • Weakness in global economic conditions or in any of the industries or geographic regions in which we or our customers operate, as well as the cyclical nature of our customers’ businesses generally or sustained uncertainty in financial markets, could adversely impact our revenues and profitability by reducing demand and margins.
  • We are dependent on our key customers.
  • Any change in the operation of our raw material surcharge mechanisms, a raw material market index or the availability or cost of raw materials could materially affect our revenues, earnings, and cash flows.
  • Our operating results depend in part on continued successful research, development and marketing of products and services.
  • Product liability, warranty and product quality claims could adversely affect our operating results.
  • We are subject to extensive environmental, health and safety laws and regulations, which impose substantial costs and limitations on our operations, and environmental, health and safety compliance and liabilities may be more costly than we expect.
  • Unexpected equipment failures or other disruptions of our operations may increase our costs and reduce our sales and earnings due to production curtailments or shutdowns.
  • The cost and availability of electricity and natural gas are also subject to volatile market conditions.
  • Work stoppages or similar difficulties could significantly disrupt our operations, reduce our revenues and materially affect our earnings.
  • A significant portion of our manufacturing facilities are located in Stark County, Ohio, which increases the risk of a significant disruption to our business as a result of unforeseeable developments in this geographic area.
  • We have significant pension and retiree health care costs, as well as future cash contribution requirements, which may negatively affect our results of operations and cash flows.
  • We may incur restructuring and impairment charges that could materially affect our profitability.
  • Deterioration in our asset borrowing base could adversely affect our financial health and restrict our ability to borrow necessary cash to support the needs of our business and fulfill our pension obligations.
  • The conditional conversion feature of the Convertible Notes, if triggered, may adversely affect our financial condition and operating results.
  • Our capital resources may not be adequate to provide for all of our cash requirements, and we are exposed to risks associated with financial, credit, capital and banking markets.
  • The price of our common shares may fluctuate significantly.
  • We may issue preferred shares with terms that could dilute the voting power or reduce the value of our common shares.
  • Provisions in our corporate documents and Ohio law could have the effect of delaying, deferring or preventing a change in control of us, even if that change may be considered beneficial by some of our shareholders, which could reduce the market price of our common shares.
  • We remain subject to continuing contingent liabilities of The Timken Company following the spinoff.
  • Potential liabilities associated with certain assumed obligations under the tax sharing agreement cannot be precisely quantified at this time.
  • We may be subject to risks relating to our information technology systems and cybersecurity.
  • We may not be able to execute successfully on our business strategies or achieve the intended results.
  • If we are unable to attract and retain key personnel, our business could be materially adversely affected.
  • We are subject to a wide variety of domestic and foreign laws and regulations that could adversely affect our results of operations, cash flow or financial condition.
  • If our internal controls are found to be ineffective, our financial results or our stock price may be adversely affected.
Management Discussion
  • The charts below present net sales and shipments for the years ended December 31, 2020, 2019 and 2018.
  • Net sales for the year ended December 31, 2020 were $830.7 million, a decrease of $378.1 million, or 31.3%, compared to the year ended December 31, 2019. The decrease was due to a reduction in volume of approximately 258 thousand ship tons, resulting in a decrease of $286.4 million of net sales and lower surcharges of $117.5 million. These decreases in net sales were partially offset by a positive mix primarily due to the industrial end-market resulting in an increase in net sales of $42.7 million. The primary driver in the decrease in volume was lower customer demand across all end-markets primarily as a result of the COVID-19 pandemic and a weak energy market. The decrease in surcharges was
  • primarily due to an approximate 25% decline in average surcharge per ton due to lower market prices for scrap and alloys. We estimate the impact of the COVID-19 pandemic on our net sales during 2020 was a reduction of approximately $265 million, as compared to our forecast prior to the onset of the pandemic. Approximately half of this decrease was related to lower than forecasted volume in our mobile end-market sector, as production was halted by all major automotive manufacturers for various lengths of time during the second quarter. Excluding surcharges, net sales decreased $260.6 million, or 27.3%.
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New words: blended, chip, criterion, disposed, holder, local, matter, ongoing, overpayment, past, payment, professional, receipt, remitted, semiconductor, shortage, statutory
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