Texas Permanent School Fund lessened its position in shares of TimkenSteel Co. (NYSE:TMST – Get Rating) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,156 shares of the basic materials company's stock after selling 624 shares during the period. Texas Permanent School Fund owned about 0.06% of TimkenSteel worth $638,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. AXS Investments LLC acquired a new stake in shares of TimkenSteel during the 4th quarter valued at approximately $172,000. ProShare Advisors LLC acquired a new stake in shares of TimkenSteel during the fourth quarter worth $186,000. Girard Partners LTD. bought a new position in shares of TimkenSteel in the 1st quarter worth about $218,000. Versor Investments LP bought a new position in shares of TimkenSteel in the 4th quarter worth about $220,000. Finally, WINTON GROUP Ltd acquired a new position in shares of TimkenSteel in the 4th quarter valued at about $235,000. Institutional investors and hedge funds own 75.88% of the company's stock.
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Shares of TMST opened at $16.71 on Thursday. The firm has a fifty day moving average of $18.65 and a 200-day moving average of $19.57. The company has a market cap of $772.42 million, a price-to-earnings ratio of 4.05 and a beta of 1.76. TimkenSteel Co. has a 1 year low of $12.04 and a 1 year high of $26.23.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TMST shares. StockNews.com cut shares of TimkenSteel from a "buy" rating to a "hold" rating in a report on Monday, August 8th. KeyCorp cut their price target on TimkenSteel from $27.00 to $24.00 and set an "overweight" rating on the stock in a report on Tuesday, July 19th.TimkenSteel Company Profile
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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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