Dimensional Fund Advisors LP raised its stake in shares of Timken Co. (NYSE:TKR) by 21.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,696,980 shares of the company’s stock after buying an additional 300,321 shares during the period. Dimensional Fund Advisors LP owned approximately 2.17% of Timken worth $52,023,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of TKR. Riverhead Capital Management LLC increased its position in shares of Timken by 764.9% in the first quarter. Riverhead Capital Management LLC now owns 134,920 shares of the company’s stock valued at $4,518,000 after buying an additional 119,320 shares during the period. UBS Group AG increased its position in shares of Timken by 213.1% in the first quarter. UBS Group AG now owns 58,294 shares of the company’s stock valued at $1,953,000 after buying an additional 39,676 shares during the period. Meeder Asset Management Inc. increased its position in shares of Timken by 26.3% in the first quarter. Meeder Asset Management Inc. now owns 6,725 shares of the company’s stock valued at $225,000 after buying an additional 1,402 shares during the period. Kempen Capital Management N.V. increased its position in shares of Timken by 66.5% in the first quarter. Kempen Capital Management N.V. now owns 7,585 shares of the company’s stock valued at $254,000 after buying an additional 3,030 shares during the period. Finally, BB&T Securities LLC increased its position in shares of Timken by 2.4% in the first quarter. BB&T Securities LLC now owns 55,901 shares of the company’s stock valued at $1,872,000 after buying an additional 1,294 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.
Shares of Timken Co. (NYSE:TKR) traded down 2.56% during trading on Friday, hitting $34.95. 626,100 shares of the company’s stock were exchanged. Timken Co. has a one year low of $22.22 and a one year high of $37.07. The stock has a market cap of $2.74 billion, a P/E ratio of 20.99 and a beta of 1.64. The firm has a 50-day moving average price of $33.78 and a 200-day moving average price of $33.29.
Timken (NYSE:TKR) last released its quarterly earnings results 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 earned $673.50 million during the quarter, compared to analysts’ expectations of $693.64 million. During the same period in the previous year, the company earned $0.57 EPS. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities research analysts expect that Timken Co. will post $1.92 EPS for the current fiscal year.
TKR has been the subject of a number of research reports. Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. Avondale Partners raised shares of Timken from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.33.
In related news, EVP William R. Burkhart sold 4,235 shares of Timken 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 transaction, the executive vice president now directly owns 40,607 shares of the company’s stock, valued at approximately $1,395,662.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Philip D. Fracassa sold 2,229 shares of Timken stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $34.27, for a total transaction of $76,387.83. Following the transaction, the chief financial officer now directly owns 30,784 shares of the company’s stock, valued at $1,054,967.68. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company’s stock.
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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