StockNews.com downgraded shares of TimkenSteel (NYSE:TMST – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Separately, KeyCorp lowered their price objective on TimkenSteel from $27.00 to $24.00 and set an overweight rating for the company in a research report on Tuesday, July 19th.

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TimkenSteel Price Performance

Shares of TimkenSteel stock opened at $17.34 on Monday. The firm has a 50 day simple moving average of $19.09 and a 200 day simple moving average of $19.47. TimkenSteel has a fifty-two week low of $12.04 and a fifty-two week high of $26.23. The firm has a market cap of $801.54 million, a P/E ratio of 4.20 and a beta of 1.76.

Hedge Funds Weigh In On TimkenSteel

Hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund raised its holdings in TimkenSteel by 2.9% in the second quarter. Texas Permanent School Fund now owns 29,993 shares of the basic materials company's stock worth $561,000 after purchasing an additional 837 shares during the period. New York State Teachers Retirement System grew its stake in TimkenSteel by 1.0% in the second quarter. New York State Teachers Retirement System now owns 86,738 shares of the basic materials company's stock valued at $1,623,000 after acquiring an additional 858 shares during the period. Captrust Financial Advisors increased its holdings in shares of TimkenSteel by 9.6% in the first quarter. Captrust Financial Advisors now owns 11,106 shares of the basic materials company's stock worth $243,000 after acquiring an additional 975 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of TimkenSteel by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 21,198 shares of the basic materials company's stock worth $396,000 after purchasing an additional 985 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of TimkenSteel by 6.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,238 shares of the basic materials company's stock valued at $355,000 after purchasing an additional 986 shares during the period. Institutional investors and hedge funds own 75.88% of the company's stock.

About TimkenSteel

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TimkenSteel Corporation manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. It offers carbon, micro-alloy, and alloy steel ingots, bars, tubes, and billets, as well as supplies machining and thermal treatment services. The company's products are used in gears; hubs; axles; crankshafts and connecting rods; oil country drill pipes; bits and collars; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts; anti-friction bearings; and other applications.

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