Hsbc Holdings PLC raised its holdings in Timken Co (NYSE:TKR) by 590.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,305 shares of the industrial products company’s stock after purchasing an additional 122,560 shares during the quarter. Hsbc Holdings PLC owned 0.19% of Timken worth $7,144,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in TKR. United Services Automobile Association raised its position in shares of Timken by 16.6% during the 3rd quarter. United Services Automobile Association now owns 103,396 shares of the industrial products company’s stock worth $5,154,000 after purchasing an additional 14,690 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Timken by 10.6% during the 3rd quarter. Brown Advisory Inc. now owns 629,686 shares of the industrial products company’s stock worth $31,390,000 after purchasing an additional 60,600 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Timken by 9.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,962,212 shares of the industrial products company’s stock worth $97,817,000 after purchasing an additional 173,964 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Timken during the 3rd quarter worth approximately $325,000. Finally, FDx Advisors Inc. acquired a new position in shares of Timken during the 3rd quarter worth approximately $250,000. 78.88% of the stock is currently owned by institutional investors.
Shares of TKR opened at $38.74 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.72 and a quick ratio of 1.44. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 0.63 and a beta of 1.88. Timken Co has a fifty-two week low of $34.90 and a fifty-two week high of $55.65.
Timken (NYSE:TKR) last issued its quarterly earnings results on Monday, October 29th. The industrial products company reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The business had revenue of $881.30 million during the quarter, compared to analyst estimates of $912.58 million. Timken had a net margin of 7.89% and a return on equity of 19.58%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts forecast that Timken Co will post 4.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 20th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $1.12 annualized dividend and a yield of 2.89%. Timken’s dividend payout ratio (DPR) is presently 42.59%.
TKR has been the subject of several research reports. Bank of America upgraded Timken from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $50.00 in a research report on Monday. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Saturday, October 13th. Goldman Sachs Group initiated coverage on Timken in a research report on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 price objective for the company. Finally, ValuEngine downgraded Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.40.
In other Timken news, Director Frank C. Sullivan purchased 5,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was bought at an average cost of $41.05 per share, for a total transaction of $205,250.00. Following the acquisition, the director now owns 51,932 shares of the company’s stock, valued at approximately $2,131,808.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.15% of the company’s stock.
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Timken Company Profile
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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