Timken Steel Corporation (TMST) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Timken Steel Corporation (NYSE:TMST) from a sell rating to a strong sell rating in a research note published on Wednesday.

Several other brokerages also recently weighed in on TMST. ValuEngine raised shares of Timken Steel Corporation from a strong sell rating to a sell rating in a report on Friday, May 26th. Cowen and Company set a $23.00 target price on shares of Timken Steel Corporation and gave the stock a buy rating in a report on Wednesday, May 31st. TheStreet downgraded shares of Timken Steel Corporation from a c- rating to a d+ rating in a report on Tuesday, June 6th. Finally, Zacks Investment Research raised shares of Timken Steel Corporation from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Timken Steel Corporation currently has an average rating of Hold and an average price target of $18.83.

Shares of Timken Steel Corporation (TMST) opened at 14.44 on Wednesday. The company has a 50 day moving average price of $15.03 and a 200-day moving average price of $15.76. Timken Steel Corporation has a 12 month low of $8.47 and a 12 month high of $23.00. The stock’s market cap is $641.48 million.

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A number of institutional investors have recently modified their holdings of TMST. BlackRock Inc. boosted its holdings in Timken Steel Corporation by 51,982.7% in the 1st quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock worth $92,873,000 after buying an additional 4,901,968 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Timken Steel Corporation by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,016,049 shares of the basic materials company’s stock worth $57,032,000 after buying an additional 699,127 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Timken Steel Corporation by 100.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock worth $17,144,000 after buying an additional 557,976 shares during the period. Bank of New York Mellon Corp boosted its holdings in Timken Steel Corporation by 115.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock worth $19,659,000 after buying an additional 556,559 shares during the period. Finally, State Street Corp boosted its holdings in Timken Steel Corporation by 22.0% in the 2nd quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock worth $29,719,000 after buying an additional 348,031 shares during the period. 75.61% of the stock is owned by 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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