Citigroup Inc. Grows Stake in Timken Steel Corporation (TMST)

Citigroup Inc. grew its holdings in shares of Timken Steel Corporation (NYSE:TMST) by 36.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,755 shares of the basic materials company’s stock after purchasing an additional 12,239 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Timken Steel Corporation worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TMST. Nationwide Fund Advisors increased its position in shares of Timken Steel Corporation by 0.9% during the 1st quarter. Nationwide Fund Advisors now owns 33,447 shares of the basic materials company’s stock valued at $632,000 after purchasing an additional 310 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Timken Steel Corporation by 3.5% during the 1st quarter. Wells Fargo & Company MN now owns 35,943 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 1,220 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Timken Steel Corporation by 5.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 53,364 shares of the basic materials company’s stock valued at $1,009,000 after purchasing an additional 2,732 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Timken Steel Corporation by 115.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock valued at $19,659,000 after purchasing an additional 556,559 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Timken Steel Corporation by 4.0% during the 1st quarter. Comerica Bank now owns 43,004 shares of the basic materials company’s stock valued at $675,000 after purchasing an additional 1,664 shares during the last quarter. 75.61% of the stock is owned by hedge funds and other institutional investors.

Timken Steel Corporation (NYSE:TMST) opened at 16.72 on Wednesday. The company’s market capitalization is $742.77 million. Timken Steel Corporation has a 52 week low of $9.39 and a 52 week high of $23.00. The company’s 50 day moving average price is $15.37 and its 200-day moving average price is $15.28.

TRADEMARK VIOLATION WARNING: “Citigroup Inc. Grows Stake in Timken Steel Corporation (TMST)” was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.com-unik.info/2017/10/11/citigroup-inc-grows-stake-in-timken-steel-corporation-tmst.html.

Several research firms have recently commented on TMST. BidaskClub lowered shares of Timken Steel Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cowen and Company set a $23.00 price target on shares of Timken Steel Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. ValuEngine raised shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co started coverage on Timken Steel Corporation in a research note on Wednesday, October 4th. They set a “neutral” rating and a $17.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Timken Steel Corporation currently has a consensus rating of “Hold” and an average price target of $18.38.

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.

Institutional Ownership by Quarter for Timken Steel Corporation (NYSE:TMST)

What are top analysts saying about Timken Steel Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Timken Steel Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit