TimkenSteel (TMST) Announces Share Buyback & Budget for 2022

By Zacks Investment ResearchStock MarketsDec 26, 2021 09:29PM ET

www.investing.com/analysis/timkensteel-tmst-announces-share-buyback--budget-for-2022-200612814

TimkenSteel (TMST) Announces Share Buyback & Budget for 2022

By Zacks Investment Research | Dec 26, 2021 09:29PM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

-0.07%

Add to/Remove from Watchlist

ASIX

+1.63%

Add to/Remove from Watchlist

NTR

+2.85%

Add to/Remove from Watchlist

TimkenSteel Corporation TMST recently announced that its board approved a share buyback program. According to the program, the company may repurchase outstanding common shares worth up to $50 million.

The board also approved the capital expenditure budget of $40 million for 2022.

TimkenSteel intends to use methods like open market repurchases, including repurchases through Rule 10b5-1 plans, and privately-negotiated transactions for the buyback of shares. The price of shares, general market and economic conditions, capital needs and other factors will determine the actual timing, number and value of shares repurchased under the program, if any.

The buyback program does not necessitate the procurement of any dollar amount or number. It could be modified, suspended, extended or terminated by the company at any time without former notice.

The company stated that this buyback program reflects the board's and senior leadership's confidence in its ability to generate sustainable through-cycle profitability while maintaining a strong balance sheet and cash flow. Given its significant transformation in the past two years, it now has the financial flexibility to return capital to shareholders while also investing in the business to drive profitable growth.

The company expects capital expenditures in the band of $15-$20 million for 2021.

TimkenSteel raised its 2022 capital expenditure budget to $40 million with over half of the amount dedicated to high-return internal investment projects.

Shares of TimkenSteel have surged 248.9% in the past year compared with a 36.9% rise of the industry.

Zacks Investment Research

Image Source: Zacks Investment Research

TimkenSteel sees fourth-quarter shipment to be lower than third-quarter levels. Although its order book is full for the rest of 2021, fourth-quarter shipments are expected to be affected by reduced melt utilization stemming from the recently completed annual Faircrest melt shop maintenance shutdown. The company also noted that periodic automotive customer manufacturing outages due to the chip shortage might impact mobile shipments in the fourth quarter.

Timken Steel Corporation Price and Consensus

Timken Steel Corporation price-consensus-chart | Timken Steel Corporation Quote

Zacks Rank & Other Key Picks

TimkenSteel currently sports a Zacks Rank #1 (Strong Buy).

Some other top-ranked stocks in the basic materials space are Nutrien (NYSE:NTR) Ltd. NTR, The Chemours Company (NYSE:CC) CC and AdvanSix (NYSE:ASIX) Inc. ASIX.

Nutrien has an expected earnings growth rate of 233.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 16.3% upward in the past 60 days.

Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 73.5%, on average. The stock has increased 44.1% in a year. NTR currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Chemours has an expected earnings growth rate of 105.1% for the current year. The Zacks Consensus Estimate for the current year has been revised 10% upward in the past 60 days.

Chemours beat the Zacks Consensus Estimate for earnings in all of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 34.2%, on average. CC has increased 22.8% over a year. Chemours currently sports a Zacks Rank #1.

AdvanSix has a projected earnings growth rate of 194.5% for the current year. ASIX's consensus estimate for the current year has been revised 5.9% upward in the past 60 days.

AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 127.6%. ASIX has rallied 123.5% in a year. AdvanSix currently flaunts a Zacks Rank #1.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Timken Steel Corporation (TMST): Free Stock Analysis Report

The Chemours Company (CC): Free Stock Analysis Report

AdvanSix (ASIX): Free Stock Analysis Report

Nutrien Ltd. (NTR): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Volatility Returns—3 Stocks Investors Should Track Amid Growing... By Christine Short - Mar 06, 2025 1

Investors are on edge about what tariff policy means for markets Coming off a strong Q4 earnings season, fresh February corporate sales figures can help assess the macro...

Broadcom Earnings: AI Tailwinds Remain, But Growth Must Outpace... By Damian Nowiszewski - Mar 06, 2025 1

Broadcom stock is in a dynamic rebound phase. Markets seem optimistic ahead of the earnings release. Let's take a deep dive into what to expect from the report. Get the...

2 Must-Have Stocks as Consumers Prioritize Needs Over Wants By Jea Yu - Mar 06, 2025

Consumers are feeling the pinch from inflation every time they go to the grocery store. Money is a zero-sum game; as disposable income and buying power erodes, consumers are...

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.65%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	42,598.3	-407.9	-0.95%
US 500	5,747.1	-95.4	-1.63%
Dow Jones	42,581.44	-425.15	-0.99%
S&P 500	5,744.45	-98.05	-1.68%
Nasdaq	18,116.36	-436.38	-2.35%
S&P 500 VIX	24.84	+2.91	+13.27%
Dollar Index	104.000	-0.252	-0.24%

Crude Oil WTI	66.55	+0.24	+0.36%
Brent Oil	69.65	+0.35	+0.51%
Natural Gas	4.302	-0.148	-3.33%
Gold	2,922.95	-3.05	-0.10%
Silver	33.235	+0.101	+0.30%
Copper	4.8003	+0.0063	+0.13%
US Soybeans	1,028.25	+16.50	+1.63%

U.S. 10Y	4.289	+0.022	+0.52%
U.S. 30Y	4.584	+0.025	+0.55%
U.S. 5Y	4.068	+0.010	+0.25%
U.S. 3M	4.306	-0.008	-0.19%
US 10Y T-Note	110.81	-0.03	-0.03%
Euro Bund	127.84	-0.02	-0.01%
10-2 Yield Spread	27.17	+1.56	+6.09%

Apple	235.17	-0.57	-0.24%
NVIDIA	111.63	-5.67	-4.83%
Alphabet A	172.38	-0.64	-0.37%
Tesla	264.54	-14.56	-5.22%
Amazon.com	199.92	-8.44	-4.05%
Netflix	913.00	-77.92	-7.86%
Meta Platforms	629.51	-26.96	-4.11%

TimkenSteel (TMST) Announces Share Buyback & Budget for 2022

Timken Steel Corporation Price and Consensus

Zacks Rank & Other Key Picks

Related Articles