SG Americas Securities LLC grew its stake in Timken Co (NYSE:TKR) by 585.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,645 shares of the industrial products company’s stock after purchasing an additional 19,342 shares during the period. SG Americas Securities LLC’s holdings in Timken were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new stake in shares of Timken in the 3rd quarter valued at approximately $382,000. Nomura Holdings Inc. bought a new stake in shares of Timken in the 2nd quarter valued at approximately $349,000. Parametrica Management Ltd acquired a new position in shares of Timken in the 3rd quarter worth approximately $331,000. Lord Abbett & CO. LLC boosted its holdings in shares of Timken by 20.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock worth $62,473,000 after acquiring an additional 230,730 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in shares of Timken by 16.8% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the industrial products company’s stock worth $2,529,000 after acquiring an additional 7,500 shares in the last quarter. Institutional investors own 78.97% of the company’s stock.
In other Timken news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total transaction of $459,789.50. Following the transaction, the insider now owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 11.08% of the stock is currently owned by corporate insiders.
Timken Co (NYSE TKR) opened at $44.40 on Wednesday. The company has a market capitalization of $3,450.08, a P/E ratio of 16.97, a PEG ratio of 1.18 and a beta of 1.44. The company has a quick ratio of 1.13, a current ratio of 2.23 and a debt-to-equity ratio of 0.58. Timken Co has a 1-year low of $41.78 and a 1-year high of $55.65.
Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $778.00 million for the quarter, compared to the consensus estimate of $767.98 million. Timken had a return on equity of 14.55% and a net margin of 6.77%. Timken’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. research analysts anticipate that Timken Co will post 3.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, February 16th. Timken’s payout ratio is currently 42.02%.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Timken from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Stifel Nicolaus reduced their target price on Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, February 8th. Jefferies Group reissued a “hold” rating and issued a $50.00 target price on shares of Timken in a report on Thursday, October 26th. Finally, Longbow Research raised Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.25.
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Timken Company 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.
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