Raymond James Financial Services Advisors Inc. boosted its stake in shares of Timken Steel Corporation (NYSE:TMST) by 32.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,214 shares of the basic materials company’s stock after buying an additional 6,909 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.06% of Timken Steel Corporation worth $434,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TMST. Wells Fargo & Company MN raised its holdings in Timken Steel Corporation by 3.5% during the 1st 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. OppenheimerFunds Inc. increased its stake in Timken Steel Corporation by 4.1% in the first quarter. OppenheimerFunds Inc. now owns 33,119 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 1,309 shares during the period. Principal Financial Group Inc. increased its stake in Timken Steel Corporation by 3.6% in the first quarter. Principal Financial Group Inc. now owns 295,786 shares of the basic materials company’s stock worth $5,593,000 after purchasing an additional 10,398 shares during the period. Thrivent Financial For Lutherans increased its stake in Timken Steel Corporation by 9.1% in the first quarter. Thrivent Financial For Lutherans now owns 22,450 shares of the basic materials company’s stock worth $425,000 after purchasing an additional 1,880 shares during the period. Finally, Vanguard Group Inc. increased its stake in Timken Steel Corporation by 5.9% in the first quarter. Vanguard Group Inc. now owns 3,254,839 shares of the basic materials company’s stock worth $61,549,000 after purchasing an additional 182,622 shares during the period. Institutional investors own 75.67% of the company’s stock.

TMST has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Friday, August 4th. Cowen and Company reiterated a “buy” rating on shares of Timken Steel Corporation in a research note on Friday, September 1st. BidaskClub upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.50.

Timken Steel Corporation (NYSE TMST) opened at $14.52 on Friday. Timken Steel Corporation has a 12-month low of $9.53 and a 12-month high of $23.00. 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 (NYSE:TMST) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Timken Steel Corporation had a negative return on equity of 12.92% and a negative net margin of 6.39%. The firm had revenue of $339.10 million for the quarter, compared to the consensus estimate of $351.50 million. During the same period in the previous year, the company posted ($0.38) EPS. Timken Steel Corporation’s quarterly revenue was up 58.6% compared to the same quarter last year. sell-side analysts anticipate that Timken Steel Corporation will post -0.52 earnings per share for the current year.

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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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