Pioneer Investment Management Inc. acquired a new position in Timken Steel Corporation (NYSE:TMST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,404 shares of the basic materials company’s stock, valued at approximately $682,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position 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 buying an additional 3,416 shares in the last quarter. Acrospire Investment Management LLC increased its position in Timken Steel Corporation by 209.4% in the first quarter. Acrospire Investment Management LLC now owns 8,090 shares of the basic materials company’s stock worth $153,000 after buying an additional 5,475 shares in the last quarter. Mason Street Advisors LLC increased 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 in the last quarter. Municipal Employees Retirement System of Michigan increased its position 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 buying an additional 340 shares in the last quarter. Finally, Invictus RG bought a new position in Timken Steel Corporation during the first quarter worth $176,000. Institutional investors and hedge funds own 76.65% of the company’s stock.

Timken Steel Corporation (NYSE TMST) opened at 14.74 on Wednesday. The company’s market capitalization is $654.81 million. The firm has a 50-day moving average price of $15.64 and a 200-day moving average price of $16.26. Timken Steel Corporation has a 1-year low of $8.36 and a 1-year high of $23.00.

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A number of research firms have weighed in on TMST. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, July 18th. BidaskClub upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Cowen and Company set a $23.00 price target on Timken Steel Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. One research analyst has 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. Timken Steel Corporation 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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