J P Morgan Chase & Co initiated coverage on shares of Timken Steel Corporation (NYSE:TMST) in a research note released on Wednesday, Marketbeat reports. The brokerage issued a neutral rating and a $17.00 price target on the basic materials company’s stock.

Several other analysts have also commented on the stock. BidaskClub lowered shares of Timken Steel Corporation from a sell rating to a strong sell rating in a research report on Wednesday, September 13th. Cowen and Company reissued a buy rating on shares of Timken Steel Corporation in a research report on Friday, September 1st. Zacks Investment Research raised shares of Timken Steel Corporation from a hold rating to a buy rating and set a $18.00 price target for the company in a research report on Tuesday, July 18th. Finally, TheStreet lowered shares of Timken Steel Corporation from a c- rating to a d+ rating in a research report on Tuesday, June 6th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Timken Steel Corporation has a consensus rating of Hold and an average price target of $18.38.

Timken Steel Corporation (NYSE:TMST) opened at 17.23 on Wednesday. Timken Steel Corporation has a 12 month low of $9.39 and a 12 month high of $23.00. The stock’s market capitalization is $765.43 million. The company’s 50-day moving average is $15.24 and its 200-day moving average is $15.33.

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Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Timken Steel Corporation by 51,982.7% during the first quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock valued at $92,873,000 after buying an additional 4,901,968 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Timken Steel Corporation by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,444,679 shares of the basic materials company’s stock valued at $52,945,000 after buying an additional 428,630 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Timken Steel Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 3,332,660 shares of the basic materials company’s stock valued at $51,223,000 after buying an additional 77,821 shares during the last quarter. State Street Corp lifted its position in shares of Timken Steel Corporation by 22.0% during the second quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock valued at $29,719,000 after buying an additional 348,031 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Timken Steel Corporation by 100.1% during the second quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock valued at $17,144,000 after buying an additional 557,976 shares during the last quarter. 75.61% of the stock is owned by institutional investors and hedge funds.

About Timken Steel Corporation

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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