Municipal Employees Retirement System of Michigan maintained its stake in Timken Steel Corporation (NYSE:TMST) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,890 shares of the basic materials company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Timken Steel Corporation were worth $168,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust purchased a new position in Timken Steel Corporation during the first quarter worth about $11,763,000. Dimensional Fund Advisors LP boosted its position in 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. Eagle Asset Management Inc. purchased a new position in Timken Steel Corporation during the first quarter worth about $4,672,000. Emerald Advisers Inc. PA purchased a new position in Timken Steel Corporation during the first quarter worth about $14,882,000. Finally, Russell Investments Group Ltd. acquired a new position in Timken Steel Corporation during the fourth quarter worth approximately $677,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Shares of Timken Steel Corporation (NYSE TMST) traded down 0.55% during midday trading on Tuesday, reaching $16.25. 296,884 shares of the company traded hands. The firm’s market capitalization is $721.89 million. The company has a 50-day moving average of $15.12 and a 200 day moving average of $16.22. Timken Steel Corporation has a 12-month low of $8.36 and a 12-month high of $23.00.

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A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of 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. BidaskClub upgraded 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. Finally, ValuEngine upgraded shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. One equities research 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. The company currently has a consensus rating of “Hold” and a consensus 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.

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

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