The dynamics of the turning process of a thin-walled cylinder in manufacturing is modeled using flexible multibody system theory. The obtained model is time varying due to workpiece rotation and tool feed and retarded, due to repeated cutting of the same surface. Instabilities can occur due to these consecutive cuts that must be avoided in practical application because of the detrimental effects on workpiece, tool and possibly the machine. Neglecting the small feed, the stability of the resulting periodic system with time-delay can be analyzed using the semi-discretization method. The use of an adaptronic tool holder comprising actuators and sensors to improve the dynamic stability is then investigated. Different control concepts, two collocated and two model-based, are implemented in simulation and tuned to increase the domain of stable cutting. Cutting of a moderately thin workpiece exhibits instabilities mainly due to tool vibration. In this case, the stability boundary can be significantly improved. When the instability is due to workpiece vibration, the collocated concepts fail completely. Model based concepts can still obtain some improvements, but are sensitive to modeling errors in the coupling of workpiece and tool.