Brandywine Global Investment Management LLC Buys 9,366 Shares of Timken Steel Corporation (TMST)

Brandywine Global Investment Management LLC lifted its stake in shares of Timken Steel Corporation (NYSE:TMST) by 64.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,996 shares of the basic materials company’s stock after acquiring an additional 9,366 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.05% of Timken Steel Corporation worth $369,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Timken Steel Corporation by 51,982.7% in the 1st quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock worth $92,873,000 after purchasing an additional 4,901,968 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Timken Steel Corporation by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,016,049 shares of the basic materials company’s stock worth $57,032,000 after acquiring an additional 699,127 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Timken Steel Corporation by 100.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock worth $17,144,000 after acquiring an additional 557,976 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Timken Steel Corporation by 115.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock worth $19,659,000 after acquiring an additional 556,559 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Timken Steel Corporation by 42.2% during the 2nd quarter. Royce & Associates LP now owns 1,097,301 shares of the basic materials company’s stock worth $16,866,000 after acquiring an additional 325,555 shares in the last quarter. Institutional investors own 75.61% of the company’s stock.

Several brokerages have recently issued reports on TMST. BidaskClub raised 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 target on the stock. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, July 18th. Cowen and Company set a $23.00 price target on Timken Steel Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.38.

ILLEGAL ACTIVITY NOTICE: “Brandywine Global Investment Management LLC Buys 9,366 Shares of Timken Steel Corporation (TMST)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was copied illegally and republished in violation of United States & intern

Other large investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Timken Steel Corporation by 51,982.7% in the 1st quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock worth $92,873,000 after purchasing an additional 4,901,968 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Timken Steel Corporation by 30.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,016,049 shares of the basic materials company’s stock worth $57,032,000 after acquiring an additional 699,127 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Timken Steel Corporation by 100.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock worth $17,144,000 after acquiring an additional 557,976 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Timken Steel Corporation by 115.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock worth $19,659,000 after acquiring an additional 556,559 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Timken Steel Corporation by 42.2% during the 2nd quarter. Royce & Associates LP now owns 1,097,301 shares of the basic materials company’s stock worth $16,866,000 after acquiring an additional 325,555 shares in the last quarter. Institutional investors own 75.61% of the company’s stock.

Several brokerages have recently issued reports on TMST. BidaskClub raised 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 target on the stock. Zacks Investment Research upgraded Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, July 18th. Cowen and Company set a $23.00 price target on Timken Steel Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.38.

ILLEGAL ACTIVITY NOTICE: “Brandywine Global Investment Management LLC Buys 9,366 Shares of Timken Steel Corporation (TMST)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was copied illegally and republished in violation of United States & international copyright & trademark law. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/11/brandywine-global-investment-management-llc-buys-9366-shares-of-timken-steel-corporation-tmst.html.

Shares of Timken Steel Corporation (NYSE TMST) opened at 16.72 on Wednesday. The stock’s market cap is $742.77 million. Timken Steel Corporation has a 12-month low of $9.39 and a 12-month high of $23.00. The company’s 50-day moving average price is $15.37 and its 200 day moving average price is $15.28.

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)

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