Rhumbline Advisers trimmed its position in shares of Timken Co (NYSE:TKR) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,303 shares of the industrial products company’s stock after selling 7,606 shares during the period. Rhumbline Advisers owned about 0.22% of Timken worth $7,298,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in TKR. Oregon Public Employees Retirement Fund increased its position in shares of Timken by 3,708.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,029,435 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,002,405 shares in the last quarter. Norges Bank acquired a new position in Timken during the 4th quarter worth approximately $33,099,000. Scout Investments Inc. acquired a new position in Timken during the 1st quarter worth approximately $27,070,000. American Century Companies Inc. acquired a new position in Timken during the 4th quarter worth approximately $14,680,000. Finally, Boston Partners increased its holdings in Timken by 8.5% during the 4th quarter. Boston Partners now owns 3,470,903 shares of the industrial products company’s stock worth $129,534,000 after purchasing an additional 272,796 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
TKR stock traded down $0.92 during trading on Friday, reaching $47.40. 558,661 shares of the company’s stock were exchanged, compared to its average volume of 717,808. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.58 and a current ratio of 2.81. The firm has a market capitalization of $3.61 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. Timken Co has a 1-year low of $33.98 and a 1-year high of $52.45.
Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The business had revenue of $979.70 million during the quarter, compared to analyst estimates of $983.81 million. Timken had a return on equity of 21.51% and a net margin of 8.55%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Equities research analysts predict that Timken Co will post 5.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, May 21st. This represents a $1.12 annualized dividend and a dividend yield of 2.36%. Timken’s dividend payout ratio (DPR) is presently 26.79%.
In related news, EVP Ronald J. Myers sold 13,191 shares of the 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 sale, the executive vice president now owns 18,987 shares in the company, valued at approximately $963,969.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shelly Marie Chadwick sold 2,400 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.44, for a total value of $123,456.00. Following the sale, the insider now owns 1,443 shares of the company’s stock, valued at approximately $74,227.92. The disclosure for this sale can be found here. 11.58% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Timken in a report on Monday. They issued an “equal weight” rating and a $54.00 price target for the company. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a report on Friday, May 17th. Finally, Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $53.63.
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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