Timken Steel Corporation (NYSE:TMST)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group LLC in a note issued to investors on Thursday. They currently have a $19.00 price objective on the basic materials company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 7.28% from the company’s current price.

Several other research firms also recently issued reports on TMST. BidaskClub upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. J P Morgan Chase & Co initiated coverage on Timken Steel Corporation in a report on Wednesday, October 4th. They set a “neutral” rating and a $17.00 price objective on the stock. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, July 18th. Cowen and Company set a $23.00 target price on Timken Steel Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.00.

Shares of Timken Steel Corporation (NYSE TMST) opened at 17.71 on Thursday. Timken Steel Corporation has a 52 week low of $9.39 and a 52 week high of $23.00. The stock’s market capitalization is $786.75 million. The firm’s 50-day moving average is $15.82 and its 200-day moving average is $15.26.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System grew its position in shares of Timken Steel Corporation by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 20,400 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 100 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Timken Steel Corporation by 0.9% in the 1st quarter. Nationwide Fund Advisors now owns 33,447 shares of the basic materials company’s stock worth $632,000 after acquiring an additional 310 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Timken Steel Corporation by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 28,510 shares of the basic materials company’s stock worth $438,000 after acquiring an additional 335 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Timken Steel Corporation by 3.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 340 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in shares of Timken Steel Corporation by 0.7% in the 2nd quarter. Teachers Advisors LLC now owns 71,166 shares of the basic materials company’s stock worth $1,094,000 after acquiring an additional 461 shares in the last quarter. Institutional investors own 75.60% of the company’s stock.

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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