Centaurus Financial Inc. bought a new stake in shares of Timken (NYSE:TKR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,731 shares of the industrial products company’s stock, valued at approximately $535,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Anchor Bolt Capital LP grew its holdings in shares of Timken by 171.8% during the fourth quarter. Anchor Bolt Capital LP now owns 1,156,766 shares of the industrial products company’s stock valued at $56,855,000 after buying an additional 731,141 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Timken by 116.9% during the fourth quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock valued at $46,477,000 after buying an additional 509,673 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Timken during the fourth quarter valued at approximately $23,942,000. Victory Capital Management Inc. grew its holdings in shares of Timken by 46.3% during the first quarter. Victory Capital Management Inc. now owns 1,218,249 shares of the industrial products company’s stock valued at $55,552,000 after buying an additional 385,825 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Timken by 52.7% during the fourth quarter. Millennium Management LLC now owns 721,980 shares of the industrial products company’s stock valued at $35,485,000 after buying an additional 249,023 shares during the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds.
In related news, insider Richard G. Kyle sold 3,084 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.74, for a total value of $144,146.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacqueline F. Woods sold 3,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total transaction of $151,152.00. Following the completion of the sale, the director now owns 15,878 shares in the company, valued at approximately $716,415.36. The disclosure for this sale can be found here. Insiders sold 10,173 shares of company stock worth $473,686 in the last 90 days. 11.15% of the stock is currently owned by corporate insiders.
NYSE:TKR opened at $48.00 on Friday. Timken 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 1.24 and a current ratio of 2.34. The company has a market cap of $3.73 billion, a PE ratio of 18.25, a PEG ratio of 1.11 and a beta of 1.50.
Timken (NYSE:TKR) last issued its earnings results on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.17. Timken had a net margin of 7.71% and a return on equity of 16.55%. The company had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $836.56 million. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. equities analysts predict that Timken will post 3.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 4th. Investors of record on Friday, May 18th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.12 annualized dividend and a yield of 2.33%. This is a boost from Timken’s previous quarterly dividend of $0.27. Timken’s dividend payout ratio (DPR) is currently 41.06%.
A number of equities research analysts have recently commented on the stock. Stifel Nicolaus cut their price target on shares of Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, February 8th. Zacks Investment Research cut shares of Timken from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Vertical Research upgraded shares of Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Jefferies Group upgraded shares of Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Finally, ValuEngine cut shares of Timken from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Timken has an average rating of “Hold” and an average target price of $51.00.
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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