UBS Group AG reduced its stake in shares of Timken Steel Corporation (NYSE:TMST) by 42.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,265 shares of the basic materials company’s stock after selling 6,221 shares during the period. UBS Group AG’s holdings in Timken Steel Corporation were worth $156,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TMST. Louisiana State Employees Retirement System raised its position in shares of Timken Steel Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the basic materials company’s stock valued at $301,000 after buying an additional 300 shares during the period. Arizona State Retirement System raised its position in shares of Timken Steel Corporation by 1.5% in the first quarter. Arizona State Retirement System now owns 20,300 shares of the basic materials company’s stock valued at $384,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors raised its position in shares of Timken Steel Corporation by 0.9% in the first quarter. Nationwide Fund Advisors now owns 33,447 shares of the basic materials company’s stock valued at $632,000 after buying an additional 310 shares during the period. Mason Street Advisors LLC raised its position in shares of Timken Steel Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,100 shares of the basic materials company’s stock valued at $172,000 after buying an additional 596 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Timken Steel Corporation by 3.5% in the first quarter. Wells Fargo & Company MN now owns 35,943 shares of the basic materials company’s stock valued at $679,000 after buying an additional 1,220 shares during the period. 74.71% of the stock is owned by institutional investors.

Shares of Timken Steel Corporation (NYSE:TMST) traded up 1.44% during trading on Thursday, reaching $16.24. 22,935 shares of the company were exchanged. The stock’s 50-day moving average is $15.40 and its 200-day moving average is $16.26. The firm’s market cap is $721.45 million. Timken Steel Corporation has a 52-week low of $8.36 and a 52-week high of $23.00.

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TMST has been the subject of a number of research analyst reports. 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 research note on Tuesday, July 18th. Cowen and Company reduced their target price on shares of Timken Steel Corporation from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, April 18th. Jefferies Group LLC reduced their target price on shares of Timken Steel Corporation from $18.00 to $16.50 and set a “hold” rating for the company in a research note on Wednesday, April 19th. BidaskClub lowered shares of Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, ValuEngine raised shares of Timken Steel Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, May 26th. One 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. Timken Steel Corporation presently has an average rating of “Hold” and an average target price of $18.83.

Timken Steel Corporation Company Profile

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

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