Timken Sees Unusually High Options Volume (TKR)

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Timken Co (NYSE:TKR) was the target of some unusual options trading on Thursday. Stock traders bought 7,806 call options on the company. This represents an increase of approximately 4,189% compared to the average volume of 182 call options.

TKR has been the topic of a number of research reports. Zacks Investment Research downgraded Timken from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a research note on Saturday, February 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.83.

In related news, insider Shelly Marie Chadwick sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.44, for a total transaction of $123,456.00. Following the transaction, the insider now owns 1,443 shares in the company, valued at approximately $74,227.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald J. Myers sold 13,191 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $50.77, for a total value of $669,707.07. Following the transaction, the executive vice president now owns 18,987 shares in the company, valued at approximately $963,969.99. The disclosure for this sale can be found here. Corporate insiders own 11.58% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. JOYN Advisors Inc. grew its stake in shares of Timken by 23,766.7% in the 4th quarter. JOYN Advisors Inc. now owns 716 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 713 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of Timken by 22.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,555 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 285 shares during the last quarter. Private Capital Group LLC grew its stake in shares of Timken by 41.3% in the 4th quarter. Private Capital Group LLC now owns 2,289 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 669 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Timken by 17.7% in the 1st quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 365 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC purchased a new position in shares of Timken in the 1st quarter valued at approximately $117,000. Institutional investors own 77.41% of the company’s stock.

Shares of TKR stock traded down $0.98 during midday trading on Friday, hitting $46.90. The company had a trading volume of 28,935 shares, compared to its average volume of 726,373. Timken has a 52-week low of $33.98 and a 52-week high of $52.45. The company has a market capitalization of $3.69 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 0.98 and a beta of 1.77. The company has a current ratio of 2.81, a quick ratio of 1.58 and a debt-to-equity ratio of 1.07.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.11. Timken had a return on equity of 21.51% and a net margin of 8.55%. The company had revenue of $979.70 million for the quarter, compared to the consensus estimate of $983.81 million. During the same period last year, the business posted $1.01 EPS. The company’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts predict that Timken will post 5.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.12 annualized dividend and a dividend yield of 2.39%. Timken’s dividend payout ratio (DPR) is currently 26.79%.

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Timken Company Profile

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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