The Timken Company (NYSE:TKR) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lessened its holdings in The Timken Company (NYSE:TKR - Free Report) by 21.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,400 shares of the industrial products company's stock after selling 17,900 shares during the quarter. Polar Asset Management Partners Inc. owned 0.09% of Timken worth $5,597,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after buying an additional 434,800 shares during the period. Verition Fund Management LLC lifted its holdings in Timken by 3,179.1% in the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company's stock valued at $16,340,000 after acquiring an additional 187,946 shares during the period. American Century Companies Inc. boosted its position in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock worth $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock worth $225,880,000 after purchasing an additional 107,350 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company's stock valued at $168,667,000 after purchasing an additional 97,550 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Price Performance

Timken stock traded down $1.17 during midday trading on Thursday, reaching $76.10. 627,754 shares of the company were exchanged, compared to its average volume of 485,862. The firm's 50-day simple moving average is $80.63 and its 200-day simple moving average is $82.06. The Timken Company has a 1 year low of $72.35 and a 1 year high of $94.71. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.15 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm earned $1.55 EPS. The business's quarterly revenue 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken's dividend payout ratio (DPR) is 28.27%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 194,485 shares of the company's stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.70% of the company's stock.

Timken Company 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.