Raymond James Financial Services Advisors Inc. Has $434,000 Holdings in Timken Steel Corporation (NYSE:TMST)

Raymond James Financial Services Advisors Inc. increased its position in shares of Timken Steel Corporation (NYSE:TMST) by 32.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,214 shares of the basic materials company’s stock after acquiring an additional 6,909 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.06% of Timken Steel Corporation worth $434,000 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 TMST. State of Alaska Department of Revenue grew its stake in Timken Steel Corporation by 79.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $118,000 after buying an additional 3,416 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in 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 buying an additional 340 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Timken Steel Corporation by 52.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,654 shares of the basic materials company’s stock worth $194,000 after buying an additional 4,327 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Timken Steel Corporation by 21.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 14,119 shares of the basic materials company’s stock worth $267,000 after buying an additional 2,506 shares in the last quarter. Finally, Capital One National Association grew its stake in Timken Steel Corporation by 6.2% in the 2nd quarter. Capital One National Association now owns 16,030 shares of the basic materials company’s stock worth $246,000 after buying an additional 937 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Timken Steel Corporation (TMST) opened at $14.10 on Tuesday. Timken Steel Corporation has a 12 month low of $12.48 and a 12 month high of $23.00. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

Timken Steel Corporation (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 Corporation 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 Corporation’s revenue for the quarter was up 58.6% on a year-over-year basis. equities analysts expect that Timken Steel Corporation will post -0.56 EPS for the current fiscal year.

A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Timken Steel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. ValuEngine raised shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub raised shares of Timken Steel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Timken Steel Corporation in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.50.

Timken Steel Corporation Profile

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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