Macquarie Group Ltd. Sells 49,600 Shares of Timken Company (The) (TKR)

Macquarie Group Ltd. decreased its holdings in shares of Timken Company (The) (NYSE:TKR) by 66.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,600 shares of the industrial products company’s stock after selling 49,600 shares during the quarter. Macquarie Group Ltd.’s holdings in Timken Company (The) were worth $1,138,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Advisor Group Inc. raised its stake in Timken Company (The) by 19.7% during the second quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 666 shares in the last quarter. US Bancorp DE raised its stake in Timken Company (The) by 10.1% during the second quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 390 shares in the last quarter. Calamos Advisors LLC bought a new position in Timken Company (The) during the second quarter valued at $210,000. Bank of Montreal Can increased its position in Timken Company (The) by 6.8% during the second quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 303 shares during the last quarter. Finally, United Capital Financial Advisers LLC bought a new position in Timken Company (The) during the first quarter valued at $220,000. 79.84% of the stock is currently owned by institutional investors.

Timken Company (NYSE:TKR) traded up $0.45 during midday trading on Friday, hitting $46.65. 489,700 shares of the stock were exchanged, compared to its average volume of 794,289. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3,585.91, a PE ratio of 19.17, a PEG ratio of 1.53 and a beta of 1.46. Timken Company has a 12-month low of $37.80 and a 12-month high of $53.10.

Timken Company (The) (NYSE:TKR) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $758.91 million. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. research analysts forecast that Timken Company will post 2.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 16th. Timken Company (The)’s payout ratio is presently 43.03%.

TRADEMARK VIOLATION NOTICE: This news story was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/11/macquarie-group-ltd-has-1-14-million-position-in-timken-company-the-tkr.html.

A number of research firms have weighed in on TKR. BidaskClub cut shares of Timken Company (The) from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Jefferies Group LLC reiterated a “hold” rating and set a $45.00 price objective on shares of Timken Company (The) in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, July 26th. ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) cut shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $55.00 to $51.00 in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.60.

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)

Receive News & Ratings for Timken Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply