Timken Steel Corporation (TMST) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Timken Steel Corporation (NYSE:TMST) from a strong sell rating to a sell rating in a research report released on Thursday morning.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Timken Steel Corporation from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research report on Friday, August 4th. Cowen and Company reaffirmed a buy rating on shares of Timken Steel Corporation in a research report on Friday, September 1st. TheStreet downgraded shares of Timken Steel Corporation from a c- rating to a d+ rating in a research report on Tuesday, June 6th. Finally, ValuEngine raised shares of Timken Steel Corporation from a sell rating to a hold rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $18.83.

Shares of Timken Steel Corporation (NYSE:TMST) opened at 15.45 on Thursday. The stock’s market cap is $686.35 million. Timken Steel Corporation has a one year low of $9.30 and a one year high of $23.00. The firm has a 50-day moving average of $14.97 and a 200-day moving average of $15.57.

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Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its position in shares of Timken Steel Corporation by 79.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $118,000 after buying an additional 3,416 shares during the last quarter. Mason Street Advisors LLC grew its position in shares of Timken Steel Corporation by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 9,100 shares of the basic materials company’s stock worth $172,000 after buying an additional 596 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Timken Steel Corporation by 3.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock worth $142,000 after buying an additional 340 shares during the last quarter. Invictus RG purchased a new position in shares of Timken Steel Corporation in the 1st quarter worth approximately $176,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of Timken Steel Corporation by 52.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock worth $194,000 after buying an additional 4,327 shares during the last quarter. 75.61% of the stock is currently owned by hedge funds and other institutional investors.

About Timken Steel Corporation

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.

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