TimkenSteel Corporation (NYSE:TMST) is looking for M&A. Michael Williams, President and Chief Executive Officer said, "We have a capital allocation strategy that we've reviewed with our Board. So we have a go-forward strategy and the plan. And first, our focus is on investing in our assets and our product capability to service our customers.

And those investments are centered around reliability, manufacturing, productivity improvements, quality improvements and service improvements to our customers. Secondly, we are focused on our balance sheet and continue to ensure that we have a strong balance sheet. And then thirdly, our shareholders.

And that's why we came out and announced an increase in year-over-year increase in our share buyback program. But we always will be going -- as we go forward, we'll always be looking for growth opportunities that could possibly lead to M&A possibilities. So if the opportunity exists, and it aligns with our strategic comparatives, we would be open to pursuing those".