Timken Raises Tubing Prices

Timken(TKR Quote - Cramer on TKR - Stock Picks), a manufacturer of engineered bearings, said Wednesday that it will raise prices of all carbon and alloy grade tubing products by 5%, beginning Aug. 14.

The Canton, Ohio-based company said raw material and fuel surcharges remain in effect.

Timken's stock was trading at $32.43, down 47 cents Wednesday.