Westwood Holdings Group Inc. Lowers Position in The Timken Company (NYSE:TKR)

Westwood Holdings Group Inc. trimmed its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 24.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,906 shares of the industrial products company's stock after selling 57,116 shares during the quarter. Westwood Holdings Group Inc. owned 0.25% of Timken worth $13,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in Timken in the first quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in shares of Timken during the fourth quarter worth about $30,000. Versant Capital Management Inc acquired a new position in shares of Timken in the second quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its position in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 343 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in Timken by 51.3% during the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company's stock worth $53,000 after purchasing an additional 205 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Down 1.9 %

Shares of NYSE:TKR traded down $1.56 during trading on Friday, reaching $82.59. 1,123,704 shares of the stock were exchanged, compared to its average volume of 476,896. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. The stock has a fifty day moving average of $82.48 and a two-hundred day moving average of $84.51. The Timken Company has a 1-year low of $65.71 and a 1-year high of $94.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 EPS. Research analysts anticipate that The Timken Company will post 6.11 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.65%. Timken's payout ratio is currently 25.90%.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer now owns 244,485 shares in the company, valued at $19,671,263.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TKR shares. Evercore ISI reduced their price objective on shares of Timken from $94.00 to $87.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Raymond James assumed coverage on Timken in a report on Friday, June 28th. They set a "market perform" rating for the company. Finally, DA Davidson reissued a "buy" rating and issued a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Timken has an average rating of "Hold" and an average price target of $89.18.

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.