Ceredex Value Advisors LLC Has $14.95 Million Stake in The Timken Company (NYSE:TKR)

Ceredex Value Advisors LLC boosted its holdings in The Timken Company (NYSE:TKR - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 177,307 shares of the industrial products company's stock after buying an additional 7,500 shares during the period. Ceredex Value Advisors LLC owned approximately 0.25% of Timken worth $14,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Timken in the 2nd quarter valued at $4,363,000. Comerica Bank increased its stake in shares of Timken by 13.8% in the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company's stock valued at $5,154,000 after acquiring an additional 7,160 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company's stock valued at $569,691,000 after acquiring an additional 347,794 shares during the last quarter. BNP Paribas bought a new position in Timken during the 1st quarter worth approximately $1,144,000. Finally, Sei Investments Co. boosted its stake in Timken by 26.4% during the 1st quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company's stock worth $34,462,000 after acquiring an additional 82,382 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Timken Stock Performance

Shares of TKR traded up $0.15 during midday trading on Friday, reaching $83.15. The stock had a trading volume of 710,015 shares, compared to its average volume of 401,949. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $83.01 and a 200-day simple moving average of $84.01. The firm has a market cap of $5.83 billion, a PE ratio of 17.04, a P/E/G ratio of 1.89 and a beta of 1.43. The Timken Company has a one year low of $69.35 and a one year high of $94.71.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. The business's revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Timken Company will post 6.05 EPS for the current year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken's dividend payout ratio (DPR) is presently 27.87%.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 30,000 shares of the firm's 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 sale, the chief executive officer now owns 244,485 shares in the company, valued at approximately $19,671,263.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TKR. DA Davidson reaffirmed a "buy" rating and set a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They issued a "neutral" rating and a $90.00 price target for the company. Finally, Evercore ISI dropped their price objective on shares of Timken from $94.00 to $87.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Timken has an average rating of "Hold" and an average price target of $91.70.

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.