Linden Capital L.p. Picked Up Timkensteel Corp. (OTCMKTS:TMST) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Timkensteel Corp (OTCMKTS:TMST) reported that Linden Capital L.p. has picked up 2,353,847 of common stock as of 2017-04-04.

The acquisition brings the aggregate amount owned by Linden Capital L.p. to a total of 2,353,847 representing a 5.0% stake in the company.

For those not familiar with the company, 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.

A glance at Timkensteel Corp (OTCMKTS:TMST)’s key stats reveals a current market capitalization of 874.78 Million based on 44.37 Million shares outstanding and a price at last close of $19.71 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-02-28, Rice picked up 10,000 at a purchase price of $21.35. This brings their total holding to 33,593 as of the date of the filing.

On the sell side, the most recent transaction saw Walker unload 2,739 shares at a sale price of $47.16. This brings their total holding to 16,794.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Timkensteel Corp (OTCMKTS:TMST) as things move forward to see if its progress aligns with these transactions.

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