White Pine Capital LLC Boosts Holdings in Timken Steel Corporation (NYSE:TMST)

White Pine Capital LLC increased its holdings in shares of Timken Steel Corporation (NYSE:TMST) by 18.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,112 shares of the basic materials company’s stock after purchasing an additional 10,560 shares during the quarter. White Pine Capital LLC owned approximately 0.16% of Timken Steel Corporation worth $1,062,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in Timken Steel Corporation by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 3,416 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Timken Steel Corporation by 3.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,230 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 340 shares during the last quarter. Mason Street Advisors LLC lifted its stake in Timken Steel Corporation by 7.0% during the first quarter. Mason Street Advisors LLC now owns 9,100 shares of the basic materials company’s stock worth $172,000 after purchasing an additional 596 shares during the last quarter. Invictus RG purchased a new stake in Timken Steel Corporation in the first quarter valued at approximately $176,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Timken Steel Corporation by 52.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock valued at $194,000 after buying an additional 4,327 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “White Pine Capital LLC Boosts Holdings in Timken Steel Corporation (NYSE:TMST)” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://ledgergazette.com/2017/09/16/timken-steel-corporation-tmst-shares-bought-by-white-pine-capital-llc.html.

A number of equities research analysts have weighed in on the company. Cowen and Company set a $23.00 price objective on Timken Steel Corporation and gave the company a “buy” rating in a research note on Wednesday, May 31st. BidaskClub cut Timken Steel Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet cut Timken Steel Corporation from a “c-” rating to a “d+” rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research cut Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Timken Steel Corporation presently has an average rating of “Hold” and a consensus price target of $18.83.

Shares of Timken Steel Corporation (NYSE:TMST) traded up 4.94% on Friday, reaching $14.44. The company had a trading volume of 1,501,316 shares. The company’s market capitalization is $641.48 million. Timken Steel Corporation has a 12 month low of $8.47 and a 12 month high of $23.00. The stock has a 50 day moving average price of $15.03 and a 200-day moving average price of $15.76.

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)

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

Leave a Reply