Shell Asset Management Co. Acquires New Stake in TimkenSteel Co. (NYSE:TMST)

Shell Asset Management Co. acquired a new stake in TimkenSteel Co. (NYSE:TMSTGet Rating) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 4,190 shares of the basic materials company’s stock, valued at approximately $78,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in TimkenSteel by 30.4% in the 1st quarter. State Street Corp now owns 3,715,946 shares of the basic materials company’s stock valued at $81,305,000 after purchasing an additional 865,868 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in TimkenSteel by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,888,906 shares of the basic materials company’s stock valued at $63,209,000 after purchasing an additional 43,865 shares during the last quarter. Invesco Ltd. raised its stake in TimkenSteel by 26.7% in the 1st quarter. Invesco Ltd. now owns 1,399,149 shares of the basic materials company’s stock valued at $30,614,000 after purchasing an additional 294,913 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in TimkenSteel in the 1st quarter valued at $23,874,000. Finally, Renaissance Technologies LLC raised its stake in TimkenSteel by 30.6% in the 1st quarter. Renaissance Technologies LLC now owns 537,446 shares of the basic materials company’s stock valued at $11,759,000 after purchasing an additional 125,881 shares during the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.

TimkenSteel Stock Down 0.9 %

Shares of NYSE:TMST opened at $18.93 on Friday. The business has a fifty day moving average of $16.73 and a two-hundred day moving average of $18.13. The stock has a market cap of $841.82 million, a P/E ratio of 6.53 and a beta of 1.74. TimkenSteel Co. has a 52-week low of $12.67 and a 52-week high of $26.23.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on TimkenSteel in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

TimkenSteel Profile

(Get Rating)

TimkenSteel Corp. engages in the manufacture of alloy, carbon and micro-alloy steel products. The firm’s products includes special bar quality steel, seamless mechanical tubing, gears, grades of steel, jumbo bloom vertical caster, TimkenSteel ultrapremium technology, and TimkenSteel endurance steels.

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Want to see what other hedge funds are holding TMST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TimkenSteel Co. (NYSE:TMSTGet Rating).

Institutional Ownership by Quarter for TimkenSteel (NYSE:TMST)

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