Thrivent Financial for Lutherans Buys 107,350 Shares of The Timken Company (NYSE:TKR)

Thrivent Financial for Lutherans grew its position in shares of The Timken Company (NYSE:TKR - Free Report) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,679,790 shares of the industrial products company's stock after buying an additional 107,350 shares during the period. Thrivent Financial for Lutherans owned 3.82% of Timken worth $225,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Timken by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company's stock worth $569,691,000 after purchasing an additional 347,794 shares in the last quarter. American Century Companies Inc. lifted its holdings in 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. Dimensional Fund Advisors LP lifted its holdings in Timken by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company's stock worth $168,667,000 after purchasing an additional 97,550 shares in the last quarter. Earnest Partners LLC increased its stake in Timken by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company's stock worth $105,957,000 after acquiring an additional 26,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Timken by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company's stock worth $42,402,000 after acquiring an additional 3,462 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Evercore ISI upgraded Timken from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $87.00 to $91.00 in a research note on Wednesday. KeyCorp decreased their target price on Timken from $104.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. Oppenheimer decreased their target price 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 decreased their target price on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They issued a "neutral" rating and a $90.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Timken currently has an average rating of "Hold" and an average target price of $90.00.

Timken Trading Up 0.8 %

NYSE TKR traded up $0.63 on Friday, hitting $75.59. The company's stock had a trading volume of 530,848 shares, compared to its average volume of 644,070. The Timken Company has a 52-week low of $71.57 and a 52-week high of $94.71. 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's 50-day simple moving average is $81.89 and its 200 day simple moving average is $83.33. The firm has a market cap of $5.30 billion, a P/E ratio of 15.72, a PEG ratio of 1.12 and a beta of 1.43.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the business posted $1.55 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts predict that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, November 19th. Timken's dividend payout ratio (DPR) is currently 28.27%.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.70% of the company's stock.

About Timken

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.