Earnest Partners LLC Has $105.96 Million Holdings in The Timken Company (NYSE:TKR)

Earnest Partners LLC raised its holdings in The Timken Company (NYSE:TKR - Free Report) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,322,312 shares of the industrial products company's stock after acquiring an additional 26,671 shares during the quarter. Earnest Partners LLC owned 1.88% of Timken worth $105,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its stake in Timken by 3.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company's stock valued at $407,000 after buying an additional 155 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 205 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Timken by 3.7% during the first quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company's stock valued at $515,000 after buying an additional 213 shares in the last quarter. Kessler Investment Group LLC raised its position in Timken by 5.7% during the second quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company's stock valued at $346,000 after buying an additional 234 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its stake in Timken by 1.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,392 shares of the industrial products company's stock worth $1,634,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares in the company, valued at $19,671,263.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.70% of the company's stock.

Timken Price Performance

TKR traded up $2.65 during midday trading on Thursday, reaching $84.79. 441,861 shares of the company's stock were exchanged, compared to its average volume of 475,681. The Timken Company has a one year low of $65.71 and a one year high of $94.71. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44. The business has a 50-day simple moving average of $82.28 and a two-hundred day simple moving average of $84.45. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. Timken's quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.01 EPS. As a group, research analysts predict that The Timken Company will post 6.11 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, August 20th. Timken's dividend payout ratio is 25.90%.

Wall Street Analyst Weigh In

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