Wells Fargo & Company MN lifted its stake in shares of Timken Co (NYSE:TKR) by 116.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 945,600 shares of the industrial products company’s stock after acquiring an additional 509,673 shares during the quarter. Wells Fargo & Company MN’s holdings in Timken were worth $46,477,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of TKR. Cerebellum GP LLC purchased a new stake in shares of Timken during the 4th quarter worth approximately $128,000. Contravisory Investment Management Inc. purchased a new stake in shares of Timken during the 4th quarter worth approximately $148,000. State of Alaska Department of Revenue purchased a new stake in shares of Timken during the 4th quarter worth approximately $201,000. Creative Planning purchased a new stake in shares of Timken during the 4th quarter worth approximately $210,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Timken during the 2nd quarter worth approximately $215,000. Institutional investors and hedge funds own 77.26% of the company’s stock.
In related news, Director Jacqueline F. Woods sold 3,350 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $45.12, for a total value of $151,152.00. Following the completion of the sale, the director now owns 15,878 shares in the company, valued at approximately $716,415.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard G. Kyle sold 3,084 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.74, for a total transaction of $144,146.16. The disclosure for this sale can be found here. 11.08% of the stock is owned by corporate insiders.
Shares of Timken Co (TKR) opened at $43.80 on Thursday. Timken Co has a 12-month low of $41.78 and a 12-month high of $55.65. The company has a market cap of $3,516.41, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.13.
Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The firm had revenue of $778.00 million during the quarter, compared to the consensus estimate of $767.98 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Timken’s revenue for the quarter was up 18.8% on a year-over-year basis. equities analysts forecast that Timken Co will post 3.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Tuesday, February 20th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.08 annualized dividend and a yield of 2.47%. Timken’s dividend payout ratio (DPR) is 42.02%.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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