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How Does Smart Money Feel About Timkensteel Corp (TMST)?

As one would reasonably expect, key money managers were leading the bulls’ herd. PDT Partners, managed by Peter Muller, assembled the largest position in Timkensteel Corp (NYSE:TMST). PDT Partners had $0.4 million invested in the company at the end of the quarter. Benjamin A. Smith’s Laurion Capital Management also made a $0.2 million investment in the stock during the quarter. The following funds were also among the new TMST investors: Mike Vranos’s Ellington, Joel Greenblatt’s Gotham Asset Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s go over hedge fund activity in other stocks similar to Timkensteel Corp (NYSE:TMST). We will take a look at WL Ross Holding Corp (NASDAQ:WLRHU), Star Bulk Carriers Corp. (NASDAQ:SBLK), Ennis, Inc. (NYSE:EBF), and Ardelyx Inc (NASDAQ:ARDX). This group of stocks’ market caps are closest to TMST’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WLRHU 19 109151 1
SBLK 6 297888 -2
EBF 14 22993 -2
ARDX 7 71550 -3

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $125 million, versus $33 million in TMST’s case. WL Ross Holding Corp (NASDAQ:WLRHU) is the most popular stock in this table with 19 investors holding shares, while Star Bulk Carriers Corp. (NASDAQ:SBLK) is the least popular one with only six bullish hedge fund positions. Even though Timkensteel Corp (NYSE:TMST) is not the most popular stock in this group, the hedge fund interest towards the stock is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard WLRHU might be a better candidate to consider a long position.

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