LSV Asset Management reduced its position in shares of Timken (NYSE:TKR) by 4.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,474,075 shares of the industrial products company’s stock after selling 60,900 shares during the quarter. LSV Asset Management’s holdings in Timken were worth $67,217,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TKR. Anchor Bolt Capital LP boosted its stake in shares of Timken by 171.8% during the 4th quarter. Anchor Bolt Capital LP now owns 1,156,766 shares of the industrial products company’s stock worth $56,855,000 after purchasing an additional 731,141 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Timken by 116.9% during the 4th quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock worth $46,477,000 after purchasing an additional 509,673 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Timken during the 4th quarter worth about $23,942,000. Victory Capital Management Inc. boosted its stake in shares of Timken by 46.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,218,249 shares of the industrial products company’s stock worth $55,552,000 after purchasing an additional 385,825 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Timken by 52.7% during the 4th quarter. Millennium Management LLC now owns 721,980 shares of the industrial products company’s stock worth $35,485,000 after purchasing an additional 249,023 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors.
In other Timken news, Director Frank C. Sullivan purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 3rd. The shares were purchased at an average price of $44.85 per share, for a total transaction of $89,700.00. Following the completion of the acquisition, the director now owns 46,932 shares of the company’s stock, valued at approximately $2,104,900.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Philip D. Fracassa sold 3,739 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $47.71, for a total transaction of $178,387.69. Following the completion of the transaction, the chief financial officer now owns 43,534 shares in the company, valued at approximately $2,077,007.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,173 shares of company stock worth $473,686. Insiders own 11.15% of the company’s stock.
Shares of Timken opened at $48.00 on Friday, Marketbeat.com reports. The stock has a market cap of $3.73 billion, a PE ratio of 18.25, a P/E/G ratio of 1.11 and a beta of 1.50. Timken has a 1-year low of $41.85 and a 1-year 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.
Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.17. The business had revenue of $883.00 million for the quarter, compared to analyst estimates of $836.56 million. Timken had a net margin of 7.71% and a return on equity of 16.55%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. analysts forecast that Timken will post 3.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Friday, May 18th will be issued a dividend of $0.28 per share. This is a positive change from Timken’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, May 17th. Timken’s dividend payout ratio is presently 41.06%.
Several research firms have issued reports on TKR. ValuEngine cut shares of Timken from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Vertical Research upgraded shares of Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Zacks Investment Research lowered shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Stifel Nicolaus cut their price objective 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. Finally, Jefferies Group upgraded shares of Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company 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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