Timken Steel Corporation (TMST) Shares are Up 8.97%

Timken Steel Corporation (TMST) : Traders are bullish on Timken Steel Corporation (TMST) as it has outperformed the S&P 500 by a wide margin of 7.21% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.79%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.97% in the last 1 week, and is up 6.63% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 11.19% and the 50-Day Moving Average is 7.78%.The 200 Day SMA reached 13.82%

Timken

Timken Steel Corporation (NYSE:TMST): After opening at $10.53, the stock dipped to an intraday low of $10.1375 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $10.64 and the buying power remained strong till the end. The stock closed at $10.45 for the day, a gain of 1.06% for the day session. The total traded volume was 640,856. The stocks close on the previous trading day was $10.45.

Timken Steel Corporation (TMST) : The consensus price target for Timken Steel Corporation (TMST) is $12.38 for the short term with a standard deviation of $3.71. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $15, however, the pessimist price target for the company is $10.

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.

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