Mirabella Financial Services LLP bought a new position in The Timken Company (NYSE:TKR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,278 shares of the industrial products company's stock, valued at approximately $2,215,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Coastline Trust Co bought a new position in Timken in the 3rd quarter valued at about $29,000. Versant Capital Management Inc bought a new position in Timken during the second quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its holdings in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company's stock worth $32,000 after acquiring an additional 343 shares during the period. Livelsberger Financial Advisory bought a new stake in Timken in the third quarter worth about $32,000. Finally, UMB Bank n.a. lifted its holdings in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on TKR shares. Evercore ISI upgraded shares of Timken from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. DA Davidson dropped their price target on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Citigroup started coverage on Timken in a report on Monday, October 14th. They issued a "neutral" rating and a $90.00 target price on the stock. KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a report on Friday. Finally, Oppenheimer dropped their price target on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $90.00.
Check Out Our Latest Analysis on TKR
Timken Stock Up 2.3 %
Shares of TKR traded up $1.76 during trading hours on Monday, reaching $77.72. The company's stock had a trading volume of 490,554 shares, compared to its average volume of 488,195. The company has a 50 day moving average of $81.39 and a two-hundred day moving average of $82.70. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.43. The Timken Company has a 1-year low of $71.57 and a 1-year high of $94.71.
Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts predict that The Timken Company will post 5.61 EPS for the current fiscal year.
Timken Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Tuesday, November 19th. Timken's dividend payout ratio (DPR) is presently 28.27%.
Insider Activity
In related news, Director Richard G. Kyle sold 30,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 8.70% of the stock is owned by corporate insiders.
About Timken
(
Free Report)
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.
Featured Articles
Before you consider Timken, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Timken wasn't on the list.
While Timken currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
