Intrinsic value of TimkenSteel - TMST

Previous Close

$11.55

  Intrinsic Value

$3.03

stock screener

  Rating & Target

str. sell

-74%

Previous close

$11.55

 
Intrinsic value

$3.03

 
Up/down potential

-74%

 
Rating

str. sell

We calculate the intrinsic value of TMST stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  21.90
  20.21
  18.69
  17.32
  16.09
  14.98
  13.98
  13.08
  12.27
  11.55
  10.89
  10.30
  9.77
  9.30
  8.87
  8.48
  8.13
  7.82
  7.54
  7.28
  7.05
  6.85
  6.66
  6.50
  6.35
  6.21
  6.09
  5.98
  5.88
  5.80
Revenue, $m
  1,620
  1,948
  2,312
  2,712
  3,149
  3,620
  4,126
  4,666
  5,239
  5,844
  6,480
  7,148
  7,847
  8,576
  9,336
  10,128
  10,952
  11,808
  12,698
  13,623
  14,584
  15,583
  16,621
  17,701
  18,825
  19,994
  21,212
  22,482
  23,804
  25,184
Variable operating expenses, $m
  1,482
  1,781
  2,114
  2,480
  2,878
  3,309
  3,771
  4,265
  4,788
  5,340
  5,920
  6,530
  7,168
  7,834
  8,529
  9,252
  10,004
  10,787
  11,600
  12,444
  13,322
  14,235
  15,183
  16,170
  17,196
  18,265
  19,378
  20,537
  21,745
  23,006
Fixed operating expenses, $m
  142
  145
  148
  152
  155
  158
  162
  165
  169
  173
  177
  180
  184
  189
  193
  197
  201
  206
  210
  215
  220
  224
  229
  234
  239
  245
  250
  256
  261
  267
Total operating expenses, $m
  1,624
  1,926
  2,262
  2,632
  3,033
  3,467
  3,933
  4,430
  4,957
  5,513
  6,097
  6,710
  7,352
  8,023
  8,722
  9,449
  10,205
  10,993
  11,810
  12,659
  13,542
  14,459
  15,412
  16,404
  17,435
  18,510
  19,628
  20,793
  22,006
  23,273
Operating income, $m
  -4
  21
  50
  81
  115
  153
  193
  236
  282
  331
  384
  438
  494
  553
  615
  679
  746
  816
  888
  964
  1,042
  1,123
  1,208
  1,297
  1,389
  1,485
  1,585
  1,689
  1,798
  1,911
EBITDA, $m
  88
  131
  179
  233
  291
  355
  423
  496
  574
  656
  742
  833
  928
  1,028
  1,131
  1,239
  1,352
  1,469
  1,590
  1,717
  1,848
  1,985
  2,128
  2,276
  2,430
  2,590
  2,758
  2,932
  3,114
  3,304
Interest expense (income), $m
  0
  16
  29
  43
  59
  77
  96
  117
  139
  163
  188
  214
  242
  272
  302
  335
  368
  403
  439
  476
  516
  556
  598
  642
  688
  735
  785
  836
  890
  945
  1,003
Earnings before tax, $m
  -20
  -8
  6
  22
  38
  57
  76
  97
  119
  143
  169
  195
  222
  251
  280
  311
  343
  377
  412
  448
  486
  525
  566
  609
  653
  700
  749
  799
  852
  908
Tax expense, $m
  0
  0
  2
  6
  10
  15
  21
  26
  32
  39
  46
  53
  60
  68
  76
  84
  93
  102
  111
  121
  131
  142
  153
  164
  176
  189
  202
  216
  230
  245
Net income, $m
  -20
  -8
  5
  16
  28
  41
  56
  71
  87
  104
  124
  143
  162
  183
  205
  227
  251
  275
  301
  327
  355
  383
  413
  444
  477
  511
  546
  584
  622
  663

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,410
  1,695
  2,012
  2,360
  2,740
  3,151
  3,591
  4,061
  4,560
  5,086
  5,640
  6,221
  6,829
  7,464
  8,126
  8,815
  9,532
  10,277
  11,051
  11,856
  12,693
  13,562
  14,466
  15,406
  16,384
  17,402
  18,462
  19,566
  20,718
  21,918
Adjusted assets (=assets-cash), $m
  1,410
  1,695
  2,012
  2,360
  2,740
  3,151
  3,591
  4,061
  4,560
  5,086
  5,640
  6,221
  6,829
  7,464
  8,126
  8,815
  9,532
  10,277
  11,051
  11,856
  12,693
  13,562
  14,466
  15,406
  16,384
  17,402
  18,462
  19,566
  20,718
  21,918
Revenue / Adjusted assets
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
  1.149
Average production assets, $m
  896
  1,077
  1,278
  1,500
  1,741
  2,002
  2,282
  2,580
  2,897
  3,232
  3,584
  3,953
  4,339
  4,743
  5,163
  5,601
  6,056
  6,530
  7,022
  7,533
  8,065
  8,617
  9,191
  9,789
  10,410
  11,057
  11,730
  12,432
  13,164
  13,927
Working capital, $m
  219
  263
  312
  366
  425
  489
  557
  630
  707
  789
  875
  965
  1,059
  1,158
  1,260
  1,367
  1,478
  1,594
  1,714
  1,839
  1,969
  2,104
  2,244
  2,390
  2,541
  2,699
  2,864
  3,035
  3,214
  3,400
Total debt, $m
  296
  442
  606
  785
  981
  1,192
  1,419
  1,661
  1,918
  2,189
  2,474
  2,773
  3,086
  3,413
  3,754
  4,109
  4,478
  4,862
  5,261
  5,675
  6,106
  6,554
  7,019
  7,503
  8,007
  8,531
  9,077
  9,646
  10,239
  10,857
Total liabilities, $m
  726
  873
  1,036
  1,216
  1,411
  1,623
  1,849
  2,091
  2,348
  2,619
  2,905
  3,204
  3,517
  3,844
  4,185
  4,540
  4,909
  5,293
  5,691
  6,106
  6,537
  6,984
  7,450
  7,934
  8,438
  8,962
  9,508
  10,077
  10,670
  11,288
Total equity, $m
  684
  822
  976
  1,145
  1,329
  1,528
  1,742
  1,970
  2,211
  2,467
  2,735
  3,017
  3,312
  3,620
  3,941
  4,275
  4,623
  4,984
  5,360
  5,750
  6,156
  6,578
  7,016
  7,472
  7,946
  8,440
  8,954
  9,490
  10,048
  10,630
Total liabilities and equity, $m
  1,410
  1,695
  2,012
  2,361
  2,740
  3,151
  3,591
  4,061
  4,559
  5,086
  5,640
  6,221
  6,829
  7,464
  8,126
  8,815
  9,532
  10,277
  11,051
  11,856
  12,693
  13,562
  14,466
  15,406
  16,384
  17,402
  18,462
  19,567
  20,718
  21,918
Debt-to-equity ratio
  0.430
  0.540
  0.620
  0.690
  0.740
  0.780
  0.810
  0.840
  0.870
  0.890
  0.900
  0.920
  0.930
  0.940
  0.950
  0.960
  0.970
  0.980
  0.980
  0.990
  0.990
  1.000
  1.000
  1.000
  1.010
  1.010
  1.010
  1.020
  1.020
  1.020
Adjusted equity ratio
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485
  0.485

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -20
  -8
  5
  16
  28
  41
  56
  71
  87
  104
  124
  143
  162
  183
  205
  227
  251
  275
  301
  327
  355
  383
  413
  444
  477
  511
  546
  584
  622
  663
Depreciation, amort., depletion, $m
  92
  110
  130
  152
  176
  202
  230
  260
  292
  325
  358
  395
  434
  474
  516
  560
  606
  653
  702
  753
  806
  862
  919
  979
  1,041
  1,106
  1,173
  1,243
  1,316
  1,393
Funds from operations, $m
  71
  102
  134
  168
  204
  244
  286
  331
  379
  429
  482
  538
  596
  657
  721
  787
  856
  928
  1,003
  1,080
  1,161
  1,245
  1,332
  1,423
  1,518
  1,617
  1,720
  1,827
  1,939
  2,055
Change in working capital, $m
  39
  44
  49
  54
  59
  64
  68
  73
  77
  82
  86
  90
  94
  98
  103
  107
  111
  116
  120
  125
  130
  135
  140
  146
  152
  158
  164
  171
  179
  186
Cash from operations, $m
  32
  58
  85
  114
  145
  180
  217
  258
  301
  348
  396
  448
  502
  559
  618
  680
  745
  812
  883
  956
  1,031
  1,110
  1,192
  1,278
  1,366
  1,459
  1,555
  1,655
  1,760
  1,869
Maintenance CAPEX, $m
  -74
  -90
  -108
  -128
  -150
  -174
  -200
  -228
  -258
  -290
  -323
  -358
  -395
  -434
  -474
  -516
  -560
  -606
  -653
  -702
  -753
  -806
  -862
  -919
  -979
  -1,041
  -1,106
  -1,173
  -1,243
  -1,316
New CAPEX, $m
  -160
  -181
  -201
  -221
  -241
  -261
  -280
  -299
  -317
  -335
  -352
  -369
  -386
  -403
  -420
  -438
  -455
  -474
  -492
  -511
  -531
  -552
  -574
  -597
  -621
  -647
  -674
  -702
  -732
  -763
Cash from investing activities, $m
  -234
  -271
  -309
  -349
  -391
  -435
  -480
  -527
  -575
  -625
  -675
  -727
  -781
  -837
  -894
  -954
  -1,015
  -1,080
  -1,145
  -1,213
  -1,284
  -1,358
  -1,436
  -1,516
  -1,600
  -1,688
  -1,780
  -1,875
  -1,975
  -2,079
Free cash flow, $m
  -202
  -213
  -224
  -236
  -246
  -255
  -263
  -269
  -273
  -277
  -279
  -280
  -280
  -278
  -276
  -274
  -270
  -267
  -263
  -258
  -253
  -249
  -244
  -239
  -234
  -229
  -224
  -219
  -215
  -210
Issuance/(repayment) of debt, $m
  130
  147
  163
  179
  196
  211
  227
  242
  257
  271
  285
  299
  313
  327
  341
  355
  369
  384
  399
  415
  431
  448
  465
  484
  504
  524
  546
  569
  593
  618
Issuance/(repurchase) of shares, $m
  143
  146
  149
  153
  156
  158
  158
  157
  155
  151
  145
  139
  132
  125
  116
  107
  97
  86
  75
  63
  51
  38
  25
  11
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  273
  293
  312
  332
  352
  369
  385
  399
  412
  422
  430
  438
  445
  452
  457
  462
  466
  470
  474
  478
  482
  486
  490
  495
  504
  524
  546
  569
  593
  618
Total cash flow (excl. dividends), $m
  72
  80
  88
  97
  106
  114
  122
  130
  138
  146
  151
  159
  166
  173
  181
  188
  196
  203
  211
  220
  228
  237
  247
  257
  270
  295
  322
  349
  378
  408
Retained Cash Flow (-), $m
  -143
  -146
  -154
  -169
  -184
  -199
  -214
  -228
  -242
  -255
  -269
  -282
  -295
  -308
  -321
  -334
  -348
  -361
  -376
  -390
  -406
  -422
  -438
  -456
  -474
  -494
  -514
  -536
  -558
  -582
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -72
  -66
  -65
  -72
  -79
  -85
  -91
  -98
  -104
  -110
  -117
  -123
  -129
  -135
  -140
  -146
  -152
  -158
  -164
  -171
  -177
  -184
  -192
  -199
  -205
  -198
  -192
  -186
  -180
  -174
Discount rate, %
  6.40
  6.72
  7.06
  7.41
  7.78
  8.17
  8.58
  9.01
  9.46
  9.93
  10.42
  10.95
  11.49
  12.07
  12.67
  13.31
  13.97
  14.67
  15.40
  16.17
  16.98
  17.83
  18.72
  19.66
  20.64
  21.67
  22.76
  23.89
  25.09
  26.34
PV of cash for distribution, $m
  -67
  -58
  -53
  -54
  -54
  -53
  -51
  -49
  -46
  -43
  -39
  -35
  -31
  -27
  -23
  -20
  -16
  -13
  -11
  -9
  -7
  -5
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
Current shareholders' claim on cash, %
  78.2
  63.5
  53.0
  45.3
  39.4
  34.9
  31.4
  28.6
  26.3
  24.5
  23.0
  21.8
  20.8
  20.0
  19.3
  18.8
  18.3
  18.0
  17.7
  17.4
  17.3
  17.2
  17.1
  17.1
  17.1
  17.1
  17.1
  17.1
  17.1
  17.1

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company's portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations. The Company's products include SBQ Steel and Seamless Mechanical Steel Tubing, and Value-added Precision Products and Services. Its focus is on alloy steel. The Company manufactures carbon, micro-alloy and alloy steel, sold as ingots, bars and tubes. In addition to its customized steels, the Company also manufactures custom-make precision components. Its products and services are used in a range of demanding applications in the market sectors, such as oil and gas, industrial equipment, mining and power generation.

FINANCIAL RATIOS  of  TimkenSteel (TMST)

Valuation Ratios
P/E Ratio -4.8
Price to Sales 0.6
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow 6.9
Price to Free Cash Flow 16.5
Growth Rates
Sales Growth Rate -21.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -44.9%
Cap. Spend. - 3 Yr. Gr. Rate -25.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 22.9%
Total Debt to Equity 22.9%
Interest Coverage 0
Management Effectiveness
Return On Assets -9.6%
Ret/ On Assets - 3 Yr. Avg. -3.1%
Return On Total Capital -13.1%
Ret/ On T. Cap. - 3 Yr. Avg. -4.3%
Return On Equity -16.6%
Return On Equity - 3 Yr. Avg. -5.6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin -3.1%
Gross Margin - 3 Yr. Avg. 4.4%
EBITDA Margin -7.7%
EBITDA Margin - 3 Yr. Avg. -0%
Operating Margin -14.7%
Oper. Margin - 3 Yr. Avg. -5.5%
Pre-Tax Margin -16.3%
Pre-Tax Margin - 3 Yr. Avg. -6.2%
Net Profit Margin -12.2%
Net Profit Margin - 3 Yr. Avg. -4.5%
Effective Tax Rate 25.4%
Eff/ Tax Rate - 3 Yr. Avg. 32.1%
Payout Ratio 0%

TMST stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TMST stock intrinsic value calculation we used $1329.2 million for the last fiscal year's total revenue generated by TimkenSteel. The default revenue input number comes from 0001 income statement of TimkenSteel. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TMST stock valuation model: a) initial revenue growth rate of 21.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.4%, whose default value for TMST is calculated based on our internal credit rating of TimkenSteel, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of TimkenSteel.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TMST stock the variable cost ratio is equal to 91.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $139 million in the base year in the intrinsic value calculation for TMST stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.8% for TimkenSteel.

Corporate tax rate of 27% is the nominal tax rate for TimkenSteel. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TMST stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TMST are equal to 55.3%.

Life of production assets of 10 years is the average useful life of capital assets used in TimkenSteel operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TMST is equal to 13.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $560.7 million for TimkenSteel - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 44.585 million for TimkenSteel is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of TimkenSteel at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ How Financially Strong Is TimkenSteel Corporation (NYSE:TMST)?   [Sep-20-18 10:59AM  Simply Wall St.]
▶ TimkenSteel (TMST) Enters Oversold Territory   [Jul-31-18 10:02AM  Zacks]
▶ TimkenSteel Corp to Host Earnings Call   [Jul-27-18 07:00AM  ACCESSWIRE]
▶ 5 Great Basic Materials Stocks to Buy Ahead of Q2 Earnings   [Jul-23-18 11:00AM  InvestorPlace]
▶ These are Ohio's 30 top paying companies (Countdown)   [May-30-18 04:21PM  American City Business Journals]
▶ TimkenSteel Corp to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ TimkenSteel CEO: Why I support the tariffs   [Mar-05-18 02:06PM  CNBC Videos]
▶ TimkenSteel CEO: Trade war fears tend to be overblown   [Mar-02-18 11:31AM  CNBC Videos]
▶ New Strong Sell Stocks for January 31st   [Jan-31-18 05:38AM  Zacks]
▶ What Analysts Recommend for CLF ahead of 4Q17 Results   [Jan-17-18 10:31AM  Market Realist]
▶ KeyBanc Issues Stronger Forecast For 3 Steel Names   [Jan-11-18 01:47PM  Benzinga]
▶ TimkenSteel Corp to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ ETFs with exposure to TimkenSteel Corp. : October 5, 2017   [Oct-05-17 11:22AM  Capital Cube]
▶ TimkenSteel Announces Second-Quarter 2017 Results   [Jul-31-17 04:15PM  PR Newswire]
▶ ETFs with exposure to TimkenSteel Corp. : June 29, 2017   [Jun-29-17 03:20PM  Capital Cube]
▶ Why TimkenSteel Stock Fell Nearly 11% in May   [Jun-06-17 11:45AM  Motley Fool]
▶ ETFs with exposure to TimkenSteel Corp. : May 30, 2017   [May-30-17 12:47PM  Capital Cube]
▶ ETFs with exposure to TimkenSteel Corp. : May 15, 2017   [May-15-17 04:46PM  Capital Cube]
▶ ETFs with exposure to TimkenSteel Corp. : May 2, 2017   [May-02-17 04:44PM  Capital Cube]

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