Braking News of Basic Materials Stock: TimkenSteel Corporation (NYSE: TMST)

On 08 Oct 2019, TimkenSteel Corporation (NYSE: TMST) stock observed trading -59.81% off 52-week high price. On the other end, the stock has been noted 20.58% away from low price over the last 52-weeks. The stock disclosed a move of -6.00% away from 50 day moving average and -34.31% away from 200 day moving average. Moving closer, we can see that shares have been trading -11.73% off 20-day moving average. It has market cap of $256.2M.

TimkenSteel (TMST) recently reported that Ward J. “Tim” Timken, Jr. has stepped down as Chief Executive Officer and President and as Chairman of the TimkenSteel Board of Directors. Effective immediately, the Board of Directors has designated Terry L. Dunlap as the Company’s interim Chief Executive Officer and President. John P. Reilly, the current Lead Director of the TimkenSteel Board of Directors, will immediately assume the role of Chairman of the Board.

“In an effort to revitalize both the near-term performance and long-term potential of TimkenSteel, now is the time for new leadership at the Company. While stepping down as CEO is not an easy decision, it has been a true privilege for me to lead TimkenSteel on its journey as an independent public company,” stated Tim Timken. “As a member of the Timken family and CEO for the past five years, I want to thank all employees for their dedication and commitment. I am proud of what we have been able to accomplish together and remain confident in the long-term success of TimkenSteel.”

Dunlap has been a director of TimkenSteel since August 2015 and has served on the audit committee and compensation committee of the Board of Directors. He spent 31 years with Allegheny Technologies Inc., a global leader in specialty metals, serving in various positions, most recently as executive vice president of ATI’s flat-rolled products group. He has experience in areas critical to improving TimkenSteel’s business, including sales, marketing, manufacturing and operations, supply chain, procurement and information technology. Dunlap also serves on the boards of Matthews International and Ampco-Pittsburgh.

The USA based company TimkenSteel Corporation moved with change of -2.66% to $5.86 with the total traded volume of 154167 shares in recent session versus to an average volume of 340.6K. The stock was observed in the 5 days activity at -3.93%. The one month performance of stock was -7.86%. TMST’s shares are at -18.72% for the quarter and driving a -59.75% return over the course of the past year and is now at -32.95% since this point in 2018.  Right now the stock beta is 2.48. The average volatility for the week and month was at 4.14% and 5.83% respectively. There are 43.72M shares outstanding and 36.49M shares are floated in market._

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