The Timken Steel Corporation (TMST) Position Boosted by Principal Financial Group Inc.

The Timken Steel Corporation (TMST) Position Boosted by Principal Financial Group Inc.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OppenheimerFunds Inc. increased its position 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 buying an additional 1,309 shares during the period. Van ECK Associates Corp increased its position in Timken Steel Corporation by 22.5% in the first quarter. Van ECK Associates Corp now owns 99,710 shares of the basic materials company’s stock worth $1,886,000 after buying an additional 18,346 shares during the last quarter. Arizona State Retirement System increased 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 last quarter. Envestnet Asset Management Inc. increased its position in Timken Steel Corporation by 70.4% in the first quarter. Envestnet Asset Management Inc. now owns 18,981 shares of the basic materials company’s stock worth $358,000 after buying an additional 7,841 shares during the last quarter. Finally, 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 during the last quarter. Institutional investors and hedge funds own 74.29% of the company’s stock.

Principal Financial Group Inc. boosted its stake in shares of Timken Steel Corporation (NYSE:TMST) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,786 shares of the basic materials company’s stock after buying an additional 10,398 shares during the period. Principal Financial Group Inc. owned approximately 0.67% of Timken Steel Corporation worth $5,593,000 as of its most recent SEC filing.

Shares of Timken Steel Corporation (NYSE TMST) traded up 0.45% during trading on Wednesday, reaching $15.47. 515,625 shares of the company were exchanged. Timken Steel Corporation has a one year low of $8.36 and a one year high of $23.00. The stock’s market capitalization is $686.45 million. The company has a 50 day moving average price of $14.96 and a 200-day moving average price of $16.23.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub raised shares of 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 objective on shares of Timken Steel Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. Jefferies Group LLC decreased their target price on shares of Timken Steel Corporation from $18.00 to $16.50 and set a “hold” rating for the company in a report on Wednesday, April 19th. Finally, TheStreet cut shares of Timken Steel Corporation from a “c-” rating to a “d+” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Timken Steel Corporation has a consensus rating of “Hold” and an average target price of $19.17.

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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