Timken Co (NYSE:TKR) Short Interest Update

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Timken Co (NYSE:TKR) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,200,000 shares, a growth of 20.6% from the August 30th total of 995,400 shares. Based on an average trading volume of 622,300 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.8% of the company’s shares are short sold.

A number of brokerages have recently issued reports on TKR. Bank of America downgraded Timken from a “neutral” rating to an “underperform” rating and set a $41.00 price objective for the company. in a research report on Thursday, September 26th. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded Timken from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Goldman Sachs Group upgraded Timken from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $56.00 in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.25.

In related news, Director John M. Timken, Jr. acquired 5,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $38.04 per share, for a total transaction of $190,200.00. Following the completion of the transaction, the director now directly owns 397,734 shares of the company’s stock, valued at $15,129,801.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.58% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in Timken by 58.3% during the third quarter. Pacer Advisors Inc. now owns 43,354 shares of the industrial products company’s stock worth $1,886,000 after purchasing an additional 15,963 shares during the period. Cerebellum GP LLC acquired a new stake in Timken during the third quarter worth approximately $107,000. State of Alaska Department of Revenue grew its stake in Timken by 208.1% during the third quarter. State of Alaska Department of Revenue now owns 23,522 shares of the industrial products company’s stock worth $1,022,000 after purchasing an additional 15,887 shares during the period. Macquarie Group Ltd. grew its stake in Timken by 15.9% during the second quarter. Macquarie Group Ltd. now owns 45,225 shares of the industrial products company’s stock worth $2,322,000 after purchasing an additional 6,212 shares during the period. Finally, River & Mercantile Asset Management LLP acquired a new stake in Timken during the second quarter worth approximately $240,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Shares of TKR traded up $1.25 during mid-day trading on Friday, reaching $43.05. 374,150 shares of the company were exchanged, compared to its average volume of 489,680. Timken has a 52 week low of $33.98 and a 52 week high of $52.38. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.47 and a current ratio of 2.68. The stock has a market capitalization of $3.18 billion, a PE ratio of 8.93, a PEG ratio of 1.01 and a beta of 1.79. The business has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $45.58.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.18). Timken had a return on equity of 21.40% and a net margin of 8.38%. The business had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts predict that Timken will post 4.86 EPS for the current year.

About Timken

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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