Sequoia Financial Advisors LLC bought a new stake in Timken Co (NYSE:TKR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,260 shares of the industrial products company’s stock, valued at approximately $219,000.
A number of other institutional investors also recently added to or reduced their stakes in TKR. Norges Bank bought a new position in Timken in the 4th quarter valued at about $33,099,000. Carillon Tower Advisers Inc. bought a new position in Timken in the 1st quarter valued at about $18,352,000. Dimensional Fund Advisors LP raised its holdings in Timken by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,159,524 shares of the industrial products company’s stock valued at $80,593,000 after acquiring an additional 197,312 shares during the period. Strs Ohio raised its holdings in Timken by 2,552.2% in the 2nd quarter. Strs Ohio now owns 204,592 shares of the industrial products company’s stock valued at $10,503,000 after acquiring an additional 196,878 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Timken in the 2nd quarter valued at about $8,665,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE TKR traded down $1.21 during trading hours on Wednesday, hitting $40.21. 3,573 shares of the stock were exchanged, compared to its average volume of 708,329. The company has a current ratio of 2.68, a quick ratio of 1.47 and a debt-to-equity ratio of 0.96. The firm has a market cap of $3.15 billion, a P/E ratio of 9.59, a PEG ratio of 1.00 and a beta of 1.75. The firm has a fifty day moving average of $47.29. Timken Co has a 1-year low of $33.98 and a 1-year high of $52.45.
Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.18). Timken had a return on equity of 21.40% and a net margin of 8.38%. The firm had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $1.11 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Timken Co will post 4.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.12 dividend on an annualized basis and a yield of 2.79%. Timken’s dividend payout ratio is currently 26.79%.
TKR has been the topic of several research analyst reports. Goldman Sachs Group raised shares of Timken from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $56.00 in a report on Tuesday, July 16th. ValuEngine cut shares of Timken from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Bank of America cut shares of Timken from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Monday, July 15th. Finally, Morgan Stanley initiated coverage on shares of Timken in a report on Monday, June 10th. They set an “equal weight” rating and a $54.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Timken has a consensus rating of “Hold” and an average price target of $55.75.
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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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