Dupont Capital Management Corp trimmed its position in Timken Co (NYSE:TKR) by 20.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,515 shares of the industrial products company’s stock after selling 9,934 shares during the period. Dupont Capital Management Corp owned 0.05% of Timken worth $1,680,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. JOYN Advisors Inc. boosted its stake in Timken by 23,766.7% in the fourth quarter. JOYN Advisors Inc. now owns 716 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 713 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Timken by 22.4% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,555 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 285 shares during the period. Private Capital Group LLC boosted its stake in Timken by 41.3% in the fourth quarter. Private Capital Group LLC now owns 2,289 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 669 shares during the period. Bank of Montreal Can boosted its stake in Timken by 17.7% in the first quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 365 shares during the period. Finally, World Asset Management Inc acquired a new position in Timken in the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 78.17% of the company’s stock.
In other news, EVP Ronald J. Myers sold 13,191 shares of the business’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 transaction of $669,707.07. Following the completion of the transaction, the executive vice president now directly owns 18,987 shares in the company, valued at $963,969.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shelly Marie Chadwick sold 2,400 shares of the business’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 value of $123,456.00. Following the transaction, the insider now owns 1,443 shares of the company’s stock, valued at $74,227.92. The disclosure for this sale can be found here. Insiders own 11.58% of the company’s stock.
A number of brokerages have commented on TKR. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a research note on Friday, May 17th. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Timken presently has a consensus rating of “Hold” and an average price target of $53.54.
Shares of NYSE TKR traded up $0.51 during midday trading on Wednesday, hitting $44.29. 576,173 shares of the company’s stock were exchanged, compared to its average volume of 784,823. The company has a current ratio of 2.81, a quick ratio of 1.58 and a debt-to-equity ratio of 1.07. The company has a market cap of $3.38 billion, a PE ratio of 10.60, a P/E/G ratio of 0.90 and a beta of 1.77. Timken Co has a twelve month low of $33.98 and a twelve month high of $52.45.
Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The business had revenue of $979.70 million during the quarter, compared to the consensus estimate of $983.81 million. Timken had a return on equity of 21.51% and a net margin of 8.55%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Sell-side analysts forecast that Timken Co will post 5.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.12 annualized dividend and a dividend yield of 2.53%. Timken’s dividend payout ratio is presently 26.79%.
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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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