American International Group Inc. reduced its stake in Timken Steel Corporation (NYSE:TMST) by 15.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,285 shares of the basic materials company’s stock after selling 4,538 shares during the period. American International Group Inc. owned approximately 0.05% of Timken Steel Corporation worth $459,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of TMST. Dimensional Fund Advisors LP boosted its stake in shares of Timken Steel Corporation by 27.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,922 shares of the basic materials company’s stock worth $35,867,000 after buying an additional 502,885 shares during the period. State Street Corp boosted its stake in shares of Timken Steel Corporation by 76.0% in the fourth quarter. State Street Corp now owns 1,374,429 shares of the basic materials company’s stock worth $21,272,000 after buying an additional 593,433 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Timken Steel Corporation by 115.2% in the first quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock worth $19,659,000 after buying an additional 556,559 shares during the period. Norges Bank bought a new stake in shares of Timken Steel Corporation during the fourth quarter worth $13,985,000. Finally, Emerald Advisers Inc. PA bought a new stake in shares of Timken Steel Corporation during the first quarter worth $14,882,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Shares of Timken Steel Corporation (TMST) traded down 0.55% on Tuesday, hitting $16.25. The stock had a trading volume of 296,884 shares. The stock has a 50 day moving average price of $15.12 and a 200-day moving average price of $16.22. Timken Steel Corporation has a 12-month low of $8.36 and a 12-month high of $23.00. The company’s market cap is $721.89 million.

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TMST has been the subject of a number of analyst reports. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, July 18th. Cowen and Company decreased their price target on Timken Steel Corporation from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, April 18th. Jefferies Group LLC decreased 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. BidaskClub cut Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, ValuEngine upgraded Timken Steel Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Timken Steel Corporation currently has an average rating of “Hold” and a consensus target price of $18.83.

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.

Institutional Ownership by Quarter for Timken Steel Corporation (NYSE:TMST)

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