Foundry Partners LLC Decreases Holdings in The Timken Company (NYSE:TKR)

Foundry Partners LLC decreased its position in shares of The Timken Company (NYSE:TKR - Free Report) by 51.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,514 shares of the industrial products company's stock after selling 52,865 shares during the quarter. Foundry Partners LLC owned approximately 0.07% of Timken worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Timken by 0.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 122,557 shares of the industrial products company's stock valued at $10,330,000 after buying an additional 580 shares during the period. First Horizon Advisors Inc. raised its position in shares of Timken by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company's stock worth $154,000 after acquiring an additional 258 shares in the last quarter. Howe & Rusling Inc. grew its position in shares of Timken by 7.6% in the 3rd quarter. Howe & Rusling Inc. now owns 4,412 shares of the industrial products company's stock valued at $372,000 after buying an additional 311 shares during the last quarter. Commerce Bank increased its position in shares of Timken by 5.5% during the third quarter. Commerce Bank now owns 5,994 shares of the industrial products company's stock worth $505,000 after purchasing an additional 310 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Timken by 7.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 150,443 shares of the industrial products company's stock valued at $12,681,000 after acquiring an additional 9,798 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company's stock.

Analysts Set New Price Targets

TKR has been the subject of several recent research reports. Oppenheimer decreased their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Citigroup started coverage on shares of Timken in a report on Monday, October 14th. They issued a "neutral" rating and a $90.00 price target on the stock. Evercore ISI raised Timken from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, KeyCorp restated a "sector weight" rating on shares of Timken in a research report on Friday. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $90.00.

Timken Stock Performance

Shares of TKR traded up $0.74 on Friday, reaching $75.96. 712,212 shares of the stock traded hands, compared to its average volume of 487,841. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The stock's 50-day moving average price is $81.45 and its 200-day moving average price is $82.90. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.09 and a beta of 1.43. The Timken Company has a 12 month low of $71.57 and a 12 month high of $94.71.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $1.55 EPS. Timken's revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, November 19th. Timken's payout ratio is 28.27%.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.