Timken Company (The) (TKR) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in shares of Timken Company (The) (NYSE:TKR) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,350,766 shares of the industrial products company’s stock after acquiring an additional 230,730 shares during the period. Lord Abbett & CO. LLC owned about 1.74% of Timken Company (The) worth $62,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. US Bancorp DE grew its position in shares of Timken Company (The) by 3.9% during the 1st quarter. US Bancorp DE now owns 3,872 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 145 shares during the period. Advisor Group Inc. grew its position in shares of Timken Company (The) by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 666 shares during the period. HM Payson & Co. bought a new stake in shares of Timken Company (The) during the 1st quarter valued at $202,000. Calamos Advisors LLC bought a new stake in shares of Timken Company (The) during the 2nd quarter valued at $210,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Timken Company (The) during the 1st quarter valued at $210,000. 79.44% of the stock is owned by hedge funds and other institutional investors.

Shares of Timken Company (TKR) traded down 1.795% during mid-day trading on Friday, hitting $47.875. 153,998 shares of the stock traded hands. Timken Company has a 12 month low of $31.60 and a 12 month high of $53.10. The company has a market cap of $3.73 billion, a P/E ratio of 23.759 and a beta of 1.41. The firm has a 50 day moving average of $48.44 and a 200 day moving average of $46.59.

Timken Company (The) (NYSE:TKR) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. The firm had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. During the same period in the previous year, the business posted $0.53 earnings per share. Timken Company (The)’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts anticipate that Timken Company will post $2.57 EPS for the current fiscal year.

Several brokerages have commented on TKR. Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price target on shares of Timken Company (The) in a research note on Thursday. BidaskClub cut shares of Timken Company (The) from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $53.00 price target on shares of Timken Company (The) in a research note on Friday, June 30th. Finally, ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.50.

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About Timken Company (The)

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.

Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

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