Earnest Partners LLC lifted its stake in shares of Timken Co (NYSE:TKR) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,951,019 shares of the industrial products company’s stock after purchasing an additional 14,670 shares during the quarter. Earnest Partners LLC owned 2.57% of Timken worth $100,165,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Texas Permanent School Fund raised its position in Timken by 2.3% in the first quarter. Texas Permanent School Fund now owns 46,301 shares of the industrial products company’s stock valued at $2,020,000 after purchasing an additional 1,034 shares during the last quarter. Quantitative Systematic Strategies LLC raised its holdings in shares of Timken by 22.1% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 41,455 shares of the industrial products company’s stock worth $2,128,000 after purchasing an additional 7,490 shares during the period. Boston Advisors LLC grew its holdings in Timken by 219.0% during the second quarter. Boston Advisors LLC now owns 74,666 shares of the industrial products company’s stock valued at $3,833,000 after purchasing an additional 51,261 shares during the period. Mork Capital Management LLC bought a new position in Timken during the first quarter valued at $1,745,000. Finally, Sandbar Asset Management LLP bought a new position in Timken during the second quarter valued at $9,513,000. 78.50% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Timken in a research report on Monday, June 10th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Goldman Sachs Group raised Timken from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $56.00 in a research note on Tuesday, July 16th. Zacks Investment Research raised Timken from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Bank of America cut Timken from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Monday, July 15th. Finally, ValuEngine cut Timken from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Timken currently has a consensus rating of “Hold” and an average target price of $55.75.
Shares of NYSE TKR opened at $44.71 on Friday. The firm’s 50-day moving average price is $42.06 and its 200-day moving average price is $45.61. The company has a current ratio of 2.68, a quick ratio of 1.47 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.07 and a beta of 1.79. Timken Co has a 12-month low of $33.98 and a 12-month high of $52.45.
Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.18). The business had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Timken had a net margin of 8.38% and a return on equity of 21.40%. Timken’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. On average, equities analysts predict that Timken Co will post 4.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.12 annualized dividend and a dividend yield of 2.51%. Timken’s dividend payout ratio (DPR) is presently 26.79%.
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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