Hotchkis & Wiley Capital Management LLC Purchases 434,800 Shares of The Timken Company (NYSE:TKR)

Hotchkis & Wiley Capital Management LLC grew its position in The Timken Company (NYSE:TKR - Free Report) by 34.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,700,979 shares of the industrial products company's stock after buying an additional 434,800 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 2.43% of Timken worth $143,376,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Coastline Trust Co acquired a new stake in shares of Timken during the 3rd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its stake in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company's stock valued at $32,000 after buying an additional 343 shares in the last quarter. Versant Capital Management Inc bought a new stake in Timken during the second quarter valued at about $30,000. Livelsberger Financial Advisory bought a new stake in Timken in the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. raised its stake in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock worth $36,000 after acquiring an additional 168 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Trading Down 0.4 %

Timken stock traded down $0.31 during mid-day trading on Tuesday, hitting $77.62. The company's stock had a trading volume of 392,611 shares, compared to its average volume of 484,503. The firm has a market capitalization of $5.44 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The Timken Company has a 1 year low of $72.35 and a 1 year high of $94.71. The stock's fifty day moving average is $80.85 and its two-hundred day moving average is $82.18. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

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

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, November 19th. Timken's dividend payout ratio is presently 28.27%.

Wall Street Analyst Weigh In

TKR has been the subject of a number of research reports. Citigroup assumed coverage on Timken in a report on Monday, October 14th. They set a "neutral" rating and a $90.00 price objective for the company. KeyCorp restated a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Evercore ISI upgraded shares of Timken from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $90.00.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Timken 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.