Oppenheimer Asset Management Inc. Sells 4,634 Shares of Timken Company (The) (TKR)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Timken Company (The) (NYSE:TKR) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,941 shares of the industrial products company’s stock after selling 4,634 shares during the period. Oppenheimer Asset Management Inc. owned about 0.21% of Timken worth $8,057,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Capstone Asset Management Co. lifted its stake in Timken by 2.4% in the 2nd quarter. Capstone Asset Management Co. now owns 5,605 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 130 shares during the last quarter. Bank of Montreal Can lifted its stake in Timken by 6.8% in the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 303 shares during the last quarter. US Bancorp DE lifted its stake in Timken by 10.1% in the 2nd 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 during the last quarter. Russell Investments Group Ltd. lifted its stake in Timken by 15.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 117,026 shares of the industrial products company’s stock valued at $5,413,000 after purchasing an additional 15,714 shares during the last quarter. Finally, NGAM Advisors L.P. lifted its stake in Timken by 2.5% in the 2nd quarter. NGAM Advisors L.P. now owns 42,745 shares of the industrial products company’s stock valued at $1,977,000 after purchasing an additional 1,028 shares during the last quarter. Institutional investors own 79.30% of the company’s stock.

Several brokerages recently issued reports on TKR. BidaskClub downgraded shares of Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. ValuEngine downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group reiterated a “hold” rating and issued a $50.00 target price on shares of Timken in a research note on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Timken presently has an average rating of “Hold” and an average price target of $52.00.

Timken Company (NYSE TKR) traded up $0.55 during trading on Friday, reaching $49.35. 837,400 shares of the company’s stock traded hands, compared to its average volume of 783,489. The company has a market cap of $3,787.72, a PE ratio of 20.25, a P/E/G ratio of 1.61 and a beta of 1.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.59. Timken Company has a 52-week low of $38.90 and a 52-week high of $53.10.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ 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 had a net margin of 6.88% and a return on equity of 13.75%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. equities analysts forecast that Timken Company will post 2.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a yield of 2.19%. Timken’s dividend payout ratio (DPR) is 43.03%.

In related news, insider Richard G. Kyle sold 9,242 shares of Timken stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the transaction, the insider now directly owns 89,236 shares of the company’s stock, valued at $4,439,491. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.08% of the company’s stock.

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Timken Profile

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 (NYSE:TKR)

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