Municipal Employees Retirement System of Michigan increased its position in shares of Timken Steel Corporation (NYSE:TMST) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,650 shares of the basic materials company’s stock after acquiring an additional 5,420 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Timken Steel were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in Timken Steel by 64.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,821 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 8,167 shares during the period. Teton Advisors Inc. grew its stake in Timken Steel by 7.6% in the 3rd quarter. Teton Advisors Inc. now owns 141,799 shares of the basic materials company’s stock worth $2,340,000 after buying an additional 10,000 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Timken Steel by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,147,176 shares of the basic materials company’s stock worth $18,928,000 after buying an additional 31,724 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Timken Steel in the 3rd quarter worth approximately $212,000. Finally, Nationwide Fund Advisors grew its stake in Timken Steel by 97.2% in the 3rd quarter. Nationwide Fund Advisors now owns 65,973 shares of the basic materials company’s stock worth $1,089,000 after buying an additional 32,526 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Tina M. Beskid sold 2,548 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $13.68, for a total value of $34,856.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

TMST has been the subject of a number of research reports. Cowen reissued a “buy” rating on shares of Timken Steel in a research note on Friday, September 1st. BidaskClub cut shares of Timken Steel from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 13th. J P Morgan Chase & Co initiated coverage on shares of Timken Steel in a research note on Wednesday, October 4th. They issued a “neutral” rating and a $17.00 price target for the company. Jefferies Group reissued a “hold” rating on shares of Timken Steel in a research note on Thursday, October 12th. Finally, ValuEngine cut shares of Timken Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Timken Steel presently has an average rating of “Hold” and a consensus price target of $17.20.

Shares of Timken Steel Corporation (NYSE:TMST) traded up $0.03 during trading on Wednesday, hitting $13.54. 260,500 shares of the stock were exchanged, compared to its average volume of 506,377. Timken Steel Corporation has a 12 month low of $12.48 and a 12 month high of $23.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.21 and a quick ratio of 1.05.

Timken Steel (NYSE:TMST) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). Timken Steel had a negative net margin of 6.39% and a negative return on equity of 12.92%. The business had revenue of $339.10 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same period last year, the company posted ($0.38) EPS. Timken Steel’s revenue for the quarter was up 58.6% on a year-over-year basis. equities research analysts forecast that Timken Steel Corporation will post -0.56 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Municipal Employees Retirement System of Michigan Has $242,000 Position in Timken Steel Corporation (TMST)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/12/13/municipal-employees-retirement-system-of-michigan-has-242000-position-in-timken-steel-corporation-tmst.html.

About Timken Steel

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 (NYSE:TMST)

Receive News & Stock Ratings for Timken Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken Steel and related stocks with our FREE daily email newsletter.