Bank of America Corp DE Has $1.24 Million Stake in Timken Steel Corporation (TMST)

Bank of America Corp DE increased its stake in Timken Steel Corporation (NYSE:TMST) by 117.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,373 shares of the basic materials company’s stock after buying an additional 35,341 shares during the period. Bank of America Corp DE owned 0.15% of Timken Steel Corporation worth $1,237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TMST. Acrospire Investment Management LLC increased its position in shares of Timken Steel Corporation by 209.4% in the first quarter. Acrospire Investment Management LLC now owns 8,090 shares of the basic materials company’s stock worth $153,000 after buying an additional 5,475 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of 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 in the last quarter. Invictus RG acquired a new position in shares of Timken Steel Corporation during the first quarter worth about $176,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Timken Steel Corporation during the first quarter worth about $256,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Timken Steel Corporation during the first quarter worth about $256,000. 76.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Timken Steel Corporation (NYSE TMST) traded down 1.10% during trading on Friday, reaching $14.41. The company had a trading volume of 218,086 shares. The firm’s 50 day moving average price is $15.68 and its 200 day moving average price is $16.24. Timken Steel Corporation has a 12 month low of $8.36 and a 12 month high of $23.00. The firm’s market capitalization is $640.15 million.

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Several research firms have recently weighed in on TMST. Cowen and Company set a $23.00 target price on Timken Steel Corporation and gave the company a “buy” rating in a research report on Wednesday, May 31st. BidaskClub downgraded Timken Steel Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. TheStreet downgraded Timken Steel Corporation from a “c-” rating to a “d+” rating in a research report on Tuesday, June 6th. ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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.

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

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