Timken Steel Corporation (NYSE:TMST) Lowered to “Hold” at BidaskClub

Timken Steel Corporation (NYSE:TMST) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday, July 24th.

A number of other research firms also recently commented on TMST. Zacks Investment Research upgraded shares of Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, April 25th. Macquarie upgraded shares of Timken Steel Corporation from an “underperform” rating to a “neutral” rating in a report on Monday, April 3rd. ValuEngine upgraded shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company cut their price objective on shares of Timken Steel Corporation from $28.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, April 18th. Finally, Jefferies Group LLC cut their price target on shares of Timken Steel Corporation from $18.00 to $16.50 and set a “hold” rating for the company in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Timken Steel Corporation presently has a consensus rating of “Hold” and an average price target of $18.83.

Timken Steel Corporation (NYSE TMST) opened at 14.53 on Monday. Timken Steel Corporation has a 52-week low of $8.36 and a 52-week high of $23.00. The company has a 50-day moving average price of $15.65 and a 200 day moving average price of $16.22. The stock’s market cap is $645.48 million.

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Several hedge funds have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Timken Steel Corporation during the first quarter worth about $11,763,000. Dimensional Fund Advisors LP increased its stake in shares of Timken Steel Corporation by 27.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,922 shares of the basic materials company’s stock worth $35,867,000 after buying an additional 502,885 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Timken Steel Corporation during the first quarter worth about $4,672,000. Emerald Advisers Inc. PA purchased a new stake in shares of Timken Steel Corporation during the first quarter worth about $14,882,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Timken Steel Corporation during the fourth quarter worth about $677,000. Institutional investors and hedge funds own 76.65% of the company’s stock.

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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