Advisors Asset Management Inc. lowered its stake in Timken Co. (NYSE:TKR) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,355 shares of the company’s stock after selling 1,378 shares during the period. Advisors Asset Management Inc.’s holdings in Timken were worth $471,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TKR. LS Investment Advisors LLC raised its position in shares of Timken by 75.0% in the second quarter. LS Investment Advisors LLC now owns 4,222 shares of the company’s stock valued at $129,000 after buying an additional 1,810 shares during the last quarter. Invictus RG raised its position in shares of Timken by 61.0% in the first quarter. Invictus RG now owns 4,168 shares of the company’s stock valued at $140,000 after buying an additional 1,579 shares during the last quarter. IFP Advisors Inc raised its position in shares of Timken by 19.6% in the first quarter. IFP Advisors Inc now owns 4,313 shares of the company’s stock valued at $144,000 after buying an additional 708 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Timken during the second quarter valued at about $166,000. Finally, Acrospire Investment Management LLC purchased a new position in shares of Timken during the first quarter valued at about $174,000. 75.99% of the stock is currently owned by institutional investors.
Shares of Timken Co. (NYSE:TKR) traded up 1.020% during midday trading on Wednesday, reaching $34.155. 116,122 shares of the company were exchanged. The company’s 50-day moving average price is $33.48 and its 200 day moving average price is $33.14. Timken Co. has a 52-week low of $22.22 and a 52-week high of $37.07. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 20.514 and a beta of 1.70.
Timken (NYSE:TKR) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Timken had a net margin of 4.88% and a return on equity of 12.98%. The firm had revenue of $673.50 million for the quarter, compared to analyst estimates of $693.64 million. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue was down 7.4% compared to the same quarter last year. On average, equities analysts predict that Timken Co. will post $1.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Monday, August 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.08%. Timken’s dividend payout ratio (DPR) is presently 62.65%.
Several equities analysts have issued reports on TKR shares. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, June 29th. Avondale Partners raised Timken from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $33.33.
In other news, CFO Philip D. Fracassa sold 2,229 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $34.27, for a total value of $76,387.83. Following the sale, the chief financial officer now owns 30,784 shares in the company, valued at approximately $1,054,967.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William R. Burkhart sold 4,235 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $34.37, for a total transaction of $145,556.95. Following the completion of the sale, the executive vice president now owns 40,607 shares in the company, valued at approximately $1,395,662.59. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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