According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “
Separately, Avondale Partners raised Timken from a market perform rating to an outperform rating and set a $35.00 price objective on the stock in a research note on Monday, July 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Timken currently has a consensus rating of Hold and a consensus target price of $33.33.
Shares of Timken (NYSE:TKR) traded up 1.39% during mid-day trading on Thursday, reaching $35.04. The company had a trading volume of 106,755 shares. The stock’s 50-day moving average price is $33.53 and its 200 day moving average price is $33.16. Timken has a 1-year low of $22.22 and a 1-year high of $37.07. The company has a market capitalization of $2.74 billion, a PE ratio of 21.05 and a beta of 1.70.
Timken (NYSE:TKR) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. The company had revenue of $673.50 million for the quarter, compared to analyst estimates of $693.64 million. Timken had a return on equity of 12.98% and a net margin of 4.88%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities analysts expect that Timken will post $1.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Monday, August 15th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Thursday, August 11th. Timken’s dividend payout ratio (DPR) is presently 62.65%.
In other news, CFO Philip D. Fracassa sold 2,229 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $34.27, for a total value of $76,387.83. Following the transaction, the chief financial officer now owns 30,784 shares of the company’s stock, valued at approximately $1,054,967.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William R. Burkhart sold 4,235 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $34.37, for a total value of $145,556.95. Following the completion of the transaction, the executive vice president now directly owns 40,607 shares in the company, valued at approximately $1,395,662.59. The disclosure for this sale can be found here. 10.30% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Algert Global LLC acquired a new position in shares of Timken during the first quarter valued at approximately $472,000. Americafirst Capital Management LLC acquired a new position in shares of Timken during the second quarter valued at approximately $233,000. Nisa Investment Advisors L.L.C. raised its position in shares of Timken by 7.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 43,730 shares of the company’s stock valued at $1,465,000 after buying an additional 3,150 shares during the period. Invictus RG raised its position in shares of Timken by 61.0% in the first quarter. Invictus RG now owns 4,168 shares of the company’s stock valued at $140,000 after buying an additional 1,579 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of Timken by 26.3% in the first quarter. Meeder Asset Management Inc. now owns 6,725 shares of the company’s stock valued at $225,000 after buying an additional 1,402 shares during the period. 75.99% of the stock is currently owned by institutional investors and hedge funds.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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