Epoch Investment Partners Inc. raised its stake in shares of Timken Co (NYSE:TKR) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 647,559 shares of the industrial products company’s stock after purchasing an additional 109,535 shares during the period. Epoch Investment Partners Inc. owned 0.84% of Timken worth $32,281,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of TKR. Bank of Montreal Can acquired a new position in Timken during the second quarter worth approximately $123,000. Meeder Asset Management Inc. increased its position in Timken by 3,876.6% during the third quarter. Meeder Asset Management Inc. now owns 3,738 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 3,644 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Timken during the third quarter worth approximately $215,000. Integrated Investment Consultants LLC purchased a new stake in Timken during the second quarter worth approximately $218,000. Finally, Fulton Bank N.A. purchased a new stake in Timken during the third quarter worth approximately $221,000. 78.88% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on TKR. Goldman Sachs Group began coverage on shares of Timken in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 price objective for the company. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Saturday, October 13th. ValuEngine downgraded shares of Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, October 12th. Finally, Bank of America upgraded shares of Timken from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $50.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.40.
TKR opened at $38.74 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.72 and a debt-to-equity ratio of 1.03. Timken Co has a 52-week low of $34.90 and a 52-week high of $55.65. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.88.
Timken (NYSE:TKR) last released its quarterly earnings data on Monday, October 29th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). Timken had a return on equity of 19.58% and a net margin of 7.89%. The business had revenue of $881.30 million for the quarter, compared to analysts’ expectations of $912.58 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Timken’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, research analysts predict that Timken Co will post 4.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $1.12 annualized dividend and a dividend yield of 2.89%. Timken’s dividend payout ratio (DPR) is presently 42.59%.
In other news, Director Frank C. Sullivan bought 5,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was acquired at an average cost of $41.05 per share, for a total transaction of $205,250.00. Following the completion of the purchase, the director now owns 51,932 shares of the company’s stock, valued at $2,131,808.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 11.15% of the stock is currently owned by corporate insiders.
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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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