Royce & Associates LP Grows Stock Position in The Timken Company (NYSE:TKR)

Royce & Associates LP grew its stake in The Timken Company (NYSE:TKR - Free Report) by 73.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,456 shares of the industrial products company's stock after purchasing an additional 80,513 shares during the period. Royce & Associates LP owned approximately 0.27% of Timken worth $16,054,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TKR. Versant Capital Management Inc purchased a new stake in Timken in the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 343 shares during the period. Livelsberger Financial Advisory bought a new position in Timken in the 3rd quarter valued at $32,000. UMB Bank n.a. increased its stake in Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock worth $36,000 after purchasing an additional 168 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Timken during the second quarter worth $44,000. 89.08% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company's stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company's stock.

Timken Stock Up 0.8 %

Shares of NYSE:TKR traded up $0.63 during trading on Friday, reaching $75.59. The stock had a trading volume of 530,848 shares, compared to its average volume of 487,787. The Timken Company has a one year low of $71.57 and a one year high of $94.71. The firm's 50-day simple moving average is $81.89 and its 200 day simple moving average is $83.40. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $5.30 billion, a P/E ratio of 15.72, a PEG ratio of 1.11 and a beta of 1.43.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS 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 business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The business's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts expect that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. Timken's payout ratio is 28.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TKR. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They issued a "neutral" rating and a $90.00 price target on the stock. Evercore ISI raised shares of Timken from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $87.00 to $91.00 in a research note on Wednesday. Oppenheimer dropped their price objective on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. DA Davidson lowered their target price on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, KeyCorp decreased their price objective on Timken from $104.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Timken has a consensus rating of "Hold" and an average price target of $90.00.

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.