Keybank National Association OH cut its stake in Timken Co (NYSE:TKR) by 0.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,291 shares of the industrial products company’s stock after selling 104 shares during the period. Keybank National Association OH’s holdings in Timken were worth $11,584,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Timken during the fourth quarter valued at about $28,499,000. Ardevora Asset Management LLP purchased a new position in shares of Timken during the fourth quarter valued at about $27,230,000. Alyeska Investment Group L.P. purchased a new position in shares of Timken during the fourth quarter valued at about $20,549,000. Boston Partners raised its position in shares of Timken by 12.8% in the first quarter. Boston Partners now owns 2,901,889 shares of the industrial products company’s stock valued at $131,165,000 after buying an additional 330,391 shares during the last quarter. Finally, Columbus Circle Investors raised its position in shares of Timken by 102.7% in the first quarter. Columbus Circle Investors now owns 451,777 shares of the industrial products company’s stock valued at $20,420,000 after buying an additional 228,942 shares during the last quarter. Institutional investors and hedge funds own 75.87% of the company’s stock.
Timken Co (NYSE:TKR) traded down 1.18% on Friday, hitting $45.95. The stock had a trading volume of 1,546,282 shares. Timken Co has a 1-year low of $28.72 and a 1-year high of $51.75. The stock has a 50 day moving average price of $46.14 and a 200 day moving average price of $42.89. The company has a market cap of $3.58 billion, a P/E ratio of 29.21 and a beta of 1.39.
Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12. The company had revenue of $703.80 million for the quarter, compared to the consensus estimate of $649.70 million. Timken had a return on equity of 11.56% and a net margin of 5.72%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, equities research analysts expect that Timken Co will post $2.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 19th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $1.08 annualized dividend and a dividend yield of 2.32%. This is an increase from Timken’s previous quarterly dividend of $0.26. Timken’s dividend payout ratio is presently 54.17%.
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Several research analysts have issued reports on TKR shares. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Friday, January 20th. Jefferies Group LLC restated a “hold” rating and issued a $45.00 target price on shares of Timken in a report on Tuesday, April 18th. Goldman Sachs Group Inc upgraded Timken from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, January 27th. Stifel Nicolaus raised their target price on Timken from $46.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, TheStreet upgraded Timken from a “c” rating to a “b-” rating in a report on Thursday, February 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.38.
In related news, EVP William R. Burkhart sold 32,580 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $47.94, for a total value of $1,561,885.20. Following the sale, the executive vice president now owns 55,640 shares in the company, valued at approximately $2,667,381.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shelly Marie Chadwick sold 2,322 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $44.75, for a total value of $103,909.50. Following the completion of the sale, the insider now owns 3,438 shares in the company, valued at approximately $153,850.50. The disclosure for this sale can be found here. Insiders sold a total of 44,322 shares of company stock worth $2,103,717 in the last 90 days. 10.30% of the stock is currently owned by company insiders.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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