Clark Capital Management Group Inc. boosted its holdings in The Timken Co (NYSE:TKR) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,501 shares of the industrial products company’s stock after acquiring an additional 3,834 shares during the quarter. Clark Capital Management Group Inc. owned 0.05% of The Timken worth $2,089,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in TKR. American International Group Inc. increased its position in shares of The Timken by 0.9% during the 4th quarter. American International Group Inc. now owns 141,340 shares of the industrial products company’s stock valued at $6,947,000 after purchasing an additional 1,200 shares during the last quarter. New Mexico Educational Retirement Board bought a new position in shares of The Timken during the 4th quarter valued at about $834,000. Virginia Retirement Systems ET AL boosted its holdings in The Timken by 16.8% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the industrial products company’s stock valued at $2,529,000 after acquiring an additional 7,500 shares during the period. Legal & General Group Plc boosted its holdings in The Timken by 5.9% during the 3rd quarter. Legal & General Group Plc now owns 94,098 shares of the industrial products company’s stock valued at $4,569,000 after acquiring an additional 5,219 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in The Timken during the 4th quarter valued at about $369,000. Institutional investors and hedge funds own 79.48% of the company’s stock.
In other news, Director Jacqueline F. Woods sold 3,350 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total value of $151,152.00. Following the completion of the transaction, the director now owns 15,878 shares of the company’s stock, valued at approximately $716,415.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard G. Kyle sold 3,084 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.74, for a total value of $144,146.16. The disclosure for this sale can be found here. Company insiders own 11.15% of the company’s stock.
TKR has been the subject of several analyst reports. Zacks Investment Research cut The Timken from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Jefferies Group upgraded The Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Stifel Nicolaus dropped their target price on The Timken from $53.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, February 8th. Finally, Longbow Research upgraded The Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The Timken currently has a consensus rating of “Hold” and a consensus price target of $51.00.
NYSE TKR traded down $1.95 on Friday, hitting $44.80. The company’s stock had a trading volume of 892,271 shares, compared to its average volume of 857,509. The Timken Co has a 52-week low of $41.85 and a 52-week high of $55.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 2.23. The stock has a market cap of $3,489.16, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.10 and a beta of 1.48.
The Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The Timken had a return on equity of 14.55% and a net margin of 6.77%. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $767.98 million. During the same quarter last year, the business posted $0.47 EPS. The business’s revenue was up 18.8% on a year-over-year basis. sell-side analysts predict that The Timken Co will post 3.53 earnings per share for the current year.
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About The Timken
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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