Wells Fargo & Company MN lowered its holdings in Timken Steel Corporation (NYSE:TMST) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,793 shares of the basic materials company’s stock after selling 1,150 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Timken Steel Corporation worth $534,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in Timken Steel Corporation by 79.6% in the second quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 3,416 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Timken Steel Corporation by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 340 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Timken Steel Corporation by 52.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock worth $194,000 after purchasing an additional 4,327 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Timken Steel Corporation by 21.6% in the first quarter. Public Employees Retirement System of Ohio now owns 14,119 shares of the basic materials company’s stock worth $267,000 after purchasing an additional 2,506 shares in the last quarter. Finally, Capital One National Association boosted its stake in Timken Steel Corporation by 6.2% in the second quarter. Capital One National Association now owns 16,030 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 937 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors.

A number of research firms have commented on TMST. Zacks Investment Research lowered Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. ValuEngine lowered Timken Steel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub raised Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price objective on shares of Timken Steel Corporation in a research note on Thursday, October 19th. Two equities research analysts have 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. The stock presently has an average rating of “Hold” and an average target price of $18.50.

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Timken Steel Corporation (NYSE TMST) opened at $14.10 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. Timken Steel Corporation has a one year low of $12.30 and a one year high of $23.00.

Timken Steel Corporation (NYSE:TMST) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). Timken Steel Corporation had a negative net margin of 6.39% and a negative return on equity of 12.92%. The firm had revenue of $339.10 million for the quarter, compared to analyst estimates of $351.50 million. During the same period last year, the company earned ($0.38) EPS. The company’s revenue was up 58.6% compared to the same quarter last year. research analysts predict that Timken Steel Corporation will post -0.56 earnings per share for the current year.

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.

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

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