D.A. Davidson & CO. acquired a new stake in shares of Timken Co (NYSE:TKR) in the third quarter, HoldingsChannel.com reports. The firm acquired 4,315 shares of the industrial products company’s stock, valued at approximately $215,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Visionary Asset Management Inc. raised its stake in shares of Timken by 14.7% during the 3rd quarter. Visionary Asset Management Inc. now owns 8,155 shares of the industrial products company’s stock valued at $407,000 after buying an additional 1,044 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Timken by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 47,409 shares of the industrial products company’s stock valued at $2,065,000 after buying an additional 1,047 shares during the last quarter. Aperio Group LLC raised its stake in shares of Timken by 6.2% during the 3rd quarter. Aperio Group LLC now owns 26,842 shares of the industrial products company’s stock valued at $1,338,000 after buying an additional 1,560 shares during the last quarter. Intrust Bank NA raised its stake in shares of Timken by 11.3% during the 2nd quarter. Intrust Bank NA now owns 15,576 shares of the industrial products company’s stock valued at $679,000 after buying an additional 1,580 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Timken by 16.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,060 shares of the industrial products company’s stock valued at $482,000 after buying an additional 1,599 shares during the last quarter. Institutional investors and hedge funds own 78.88% of the company’s stock.
Shares of Timken stock opened at $37.50 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 twelve month low of $34.90 and a twelve month high of $55.65. The stock has a market capitalization of $3.05 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.63 and a beta of 1.88.
Timken (NYSE:TKR) last announced 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). Timken had a net margin of 7.89% and a return on equity of 19.58%. The business had revenue of $881.30 million during the quarter, compared to analysts’ expectations of $912.58 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Timken’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts forecast that Timken Co will post 4.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Investors 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 2.99%. Timken’s dividend payout ratio is presently 42.59%.
In other Timken news, Director Frank C. Sullivan purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average price of $41.05 per share, for a total transaction of $205,250.00. Following the purchase, the director now directly owns 51,932 shares in the company, valued at $2,131,808.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.15% of the stock is owned by insiders.
A number of research firms have weighed in on TKR. Zacks Investment Research lowered Timken from a “buy” rating to a “hold” rating in a research note on Thursday, November 22nd. Bank of America upgraded Timken from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $50.00 in a research note on Monday, December 3rd. Goldman Sachs Group began coverage on Timken in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 price objective for the company. Finally, ValuEngine lowered Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.40.
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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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