Company profile

Ticker
TMST
Exchange
CEO
Terry L. Dunlap
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
464024951

TMST stock data

(
)

Calendar

6 Aug 20
22 Oct 20
31 Dec 20

News

Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
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.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
8 Oct 20 Terry L Dunlap Common Shares Payment of exercise Dispose F No 3.96 50,260 199.03K 173,782
30 Sep 20 Marvin Riley Phantom Shares Common Shares Grant Aquire A No 3.55 563 2K 1,851
30 Jun 20 Marvin Riley Phantom Shares Common Shares Grant Aquire A No 3.89 514 2K 1,288
7 May 20 Terry L Dunlap Common Shares Payment of exercise Dispose F No 2.49 3,562 8.87K 224,042
6 May 20 Creel Diane C Common Shares Grant Aquire A No 0 36,925 0 84,656
62.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 132 136 -2.9%
Opened positions 22 15 +46.7%
Closed positions 26 24 +8.3%
Increased positions 47 50 -6.0%
Reduced positions 40 40
13F shares
Current Prev Q Change
Total value 137.17M 262.82M -47.8%
Total shares 28.1M 27.72M +1.4%
Total puts 73.2K 83.5K -12.3%
Total calls 11.1K 0 NEW
Total put/call ratio 6.6 Infinity NaN%
Largest owners
Shares Value Change
BLK BlackRock 6.52M $25.35M +1.1%
Dimensional Fund Advisors 3.36M $13.07M -9.7%
Vanguard 2.79M $10.85M -1.5%
Alberta Investment Management 1.51M $5.87M NEW
STT State Street 1.25M $4.87M -5.5%
Healthcare Of Ontario Pension Plan Trust Fund 1.07M $4.16M -19.1%
Charles Schwab Investment Management 817.35K $3.18M +88.6%
MS Morgan Stanley 800.51K $3.11M -18.8%
D. E. Shaw & Co. 798.44K $3.11M +29.5%
GBL Gamco Investors, Inc. Et Al 712.9K $2.77M -47.7%
Largest transactions
Shares Bought/sold Change
Alberta Investment Management 1.51M +1.51M NEW
GBL Gamco Investors, Inc. Et Al 712.9K -651.4K -47.7%
THB Asset Management 0 -514.55K EXIT
Aqr Capital Management 404K +404K NEW
Charles Schwab Investment Management 817.35K +383.96K +88.6%
Dimensional Fund Advisors 3.36M -359.23K -9.7%
Healthcare Of Ontario Pension Plan Trust Fund 1.07M -252.59K -19.1%
Royce & Associates 9.47K -249.63K -96.3%
JPM JPMorgan Chase & Co. 99.55K -207.89K -67.6%
MS Morgan Stanley 800.51K -185.42K -18.8%

Financial report summary

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Competition
ICHNucorSteel DynamicsGerdauTenarisArcelorMittalArcelormittalVallourec
Risks
  • Competition in the steel industry, together with potential global overcapacity, could result in significant pricing pressure for our products.
  • Any change in the operation of our raw material surcharge mechanisms, a raw material market index or the availability or cost of raw materials and energy resources could materially affect our revenues, earnings, and cash flows.
  • The cost and availability of electricity and natural gas are also subject to volatile market conditions.
  • Our operating results depend in part on continued successful research, development and marketing of new and/or improved products and services, and there can be no assurance that we will continue to successfully introduce new products and services.
  • Our business is capital-intensive, and if there are downturns in the industries we serve, we may be forced to significantly curtail or suspend operations with respect to those industries, which could result in our recording asset impairment charges or taking other measures that may adversely affect our results of operations and profitability.
  • We are dependent on our key customers.
  • 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.
  • 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.
  • We have significant retiree health care and pension plan costs, which may negatively affect our results of operations and cash flows.
  • Product liability, warranty and product quality claims could adversely affect our operating results.
  • We may incur restructuring and impairment charges that could materially affect our profitability.
  • If our internal controls are found to be ineffective, our financial results or our stock price may be adversely affected.
  • 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.
  • 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 may be subject to risks relating to our information technology systems and cybersecurity.
  • Work stoppages or similar difficulties could significantly disrupt our operations, reduce our revenues and materially affect our earnings.
  • 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 we are unable to attract and retain key personnel, our business could be materially adversely affected.
  • We may not realize the improved operating results that we anticipate from past and future acquisitions and we may experience difficulties in integrating acquired businesses.
  • We may not be able to execute successfully on our business strategies or achieve the intended results
  • Our ability to use our net operating loss, interest, and credit carryforwards to offset future taxable income may be subject to certain limitations.
  • Our substantial debt could adversely affect our financial health and we may not be able to generate sufficient cash to service our debt.
  • Restrictive covenants in the agreements governing our other indebtedness may restrict our ability to operate our business, which may affect the market price of our common shares.
  • The conditional conversion feature of the Convertible Notes, if triggered, may adversely affect our financial condition and operating results.
  • The price of our common shares may fluctuate significantly.
  • 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 may issue preferred shares with terms that could dilute the voting power or reduce the value 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.
Management Discussion
  • The charts below present net sales and shipments for the three months ended June 30, 2020 and 2019.
  • Net sales for the three months ended June 30, 2020 were $154.0 million, a decrease of $182.7 million, or 54.3%, compared with the three months ended June 30, 2019. The decrease was due to a reduction in volume of approximately 139 thousand ship tons, resulting in a decrease of $148.4 million of net sales and lower surcharges of $53.6 million. These decreases in net sales were slightly offset by a positive mix across all end markets resulting in an increase in net sales of $21.1 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 weak energy market. The decrease in surcharges was primarily due to a 28.9% decline in the 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 was a reduction of approximately $120 million, as compared to our forecast prior to the onset of the pandemic. The majority of this decrease was related to our mobile end-market sector, as production was halted by all major automotive manufacturers for various lengths of time during the second quarter of 2020. Excluding surcharges, net sales decreased $129.1 million, or 49.9%.
  • The charts below present net sales and shipments for the six months ended June 30, 2020 and 2019.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: adequate, civil, essentially, exited, halted, holding, July, onset, penalty, preserve, preserved, proportion, purported, Retention, settlement, slightly, weak
Removed: alleged, connection, consideration, disposal, impairment, increased, ongoing, payment, resolution, utilization