TimkenSteel Co. (NYSE:TMST) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in TimkenSteel Co. (NYSE:TMST) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 402,459 shares of the basic materials company’s stock after selling 16,264 shares during the period. Bank of New York Mellon Corp owned 0.92% of TimkenSteel worth $8,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Family Office LLC lifted its stake in shares of TimkenSteel by 1.5% in the 3rd quarter. Pathstone Family Office LLC now owns 38,568 shares of the basic materials company’s stock valued at $578,000 after purchasing an additional 584 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of TimkenSteel by 0.4% in the 1st quarter. Prudential Financial Inc. now owns 220,556 shares of the basic materials company’s stock valued at $4,045,000 after purchasing an additional 875 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in TimkenSteel by 148.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 941 shares in the last quarter. Captrust Financial Advisors lifted its position in TimkenSteel by 9.6% during the 1st 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. Finally, Raymond James Financial Services Advisors Inc. lifted its position in TimkenSteel by 6.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,238 shares of the basic materials company’s stock worth $355,000 after acquiring an additional 986 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on TimkenSteel in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

TimkenSteel Stock Performance

TimkenSteel stock opened at $20.85 on Friday. The stock’s 50 day moving average price is $20.65 and its 200 day moving average price is $20.43. The firm has a market capitalization of $899.68 million, a PE ratio of 30.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.75. TimkenSteel Co. has a one year low of $15.59 and a one year high of $23.49.

About TimkenSteel

TimkenSteel Corporation engages in manufacture and sale of 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. Its 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.