Timken Steel Corporation (TMST) has been under a strong bear grip, hence the stock is down -13.61% 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 4.51% in the past 1 week. The stock has risen by 4.48% in the past week indicating that the buyers are active at lower levels, but the stock is down -13.27% in the past 4 weeks.
TimkenSteel Corporation has dropped 5.31% during the last 3-month period . Year-to-Date the stock performance stands at 16.95%. The stock has recorded a 20-day Moving Average of 0.14% and the 50-Day Moving Average is 2.19%.
Timken Steel Corporation (NYSE:TMST): The stock opened at $9.88 on Friday but the bulls could not build on the opening and the stock topped out at $9.89 for the day. The stock traded down to $9.52 during the day, due to lack of any buying support eventually closed down at $9.80 with a loss of -1.90% for the day. The stock had closed at $9.99 on the previous day. The total traded volume was 583,843 shares.
Also, In the latest statement by the brokerage house, Cowen & Company upgrades its outlook on Timken Steel Corporation (NYSE:TMST). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of 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.