Timken Steel Corporation (TMST) has been under a strong bear grip, hence the stock is down -20.44% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.57% in the past 1 week. The stock has risen by 2.63% in the past week indicating that the buyers are active at lower levels, but the stock is down -19.62% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 8.3% and the 50-Day Moving Average is 6.34%. Timken Steel Corporation (NYSE:TMST): On Fridays trading session , Opening price of the stock was $9.56 with an intraday high of $9.645. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $9.22. However, the stock managed to close at $9.38, a loss of 1.47% for the day. On the previous day, the stock had closed at $9.52. The total traded volume of the day was 499,805 shares.
The company Insiders own 7.7% of Timken Steel Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 18.95% . Institutional Investors own 62.64% of Timken Steel Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 20.14%. Also, Equity Analysts at the Cowen & Company upgrades the rating on Timken Steel Corporation (NYSE:TMST). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on August 11, 2016.
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Companys portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are used as a feeder system for the Companys operations. Its customers are companies in the market sectors, including oil & gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture, and power generation. The Companys steels are featured in a variety of end products, including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts, and anti-friction bearings, among others.