Timken Steel Corporation (NYSE:TMST) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the company. ValuEngine upgraded Timken Steel Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, May 26th. Cowen and Company restated an “outperform” rating and issued a $23.00 price target on shares of Timken Steel Corporation in a research note on Monday, June 26th. TheStreet downgraded Timken Steel Corporation from a “c-” rating to a “d+” rating in a research note on Tuesday, June 6th. Zacks Investment Research downgraded Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC reduced their price target on 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Timken Steel Corporation has an average rating of “Hold” and an average price target of $19.17.

Shares of Timken Steel Corporation (NYSE TMST) traded down 1.37% during midday trading on Friday, hitting $14.38. The company had a trading volume of 399,288 shares. The firm’s market capitalization is $638.08 million. Timken Steel Corporation has a 12-month low of $8.36 and a 12-month high of $23.00. The firm’s 50-day moving average is $13.68 and its 200-day moving average is $16.32.

Timken Steel Corporation (NYSE:TMST) last issued its earnings results on Thursday, April 27th. The basic materials company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. Timken Steel Corporation had a negative return on equity of 15.69% and a negative net margin of 10.34%. The business had revenue of $309.40 million for the quarter, compared to the consensus estimate of $308.78 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The business’s revenue was up 42.0% compared to the same quarter last year. On average, analysts predict that Timken Steel Corporation will post ($0.84) earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in TMST. New York State Teachers Retirement System boosted its position in shares of Timken Steel Corporation by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 80,860 shares of the basic materials company’s stock valued at $1,252,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System boosted 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 in the last quarter. Arizona State Retirement System boosted its position in 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 worth $384,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors boosted its position in 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 worth $632,000 after buying an additional 310 shares during the period. Finally, Mason Street Advisors LLC boosted its position in 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 worth $172,000 after buying an additional 596 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

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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