Southernsun Asset Management LLC Sells 7,338 Shares of The Timken Company (NYSE:TKR)

Southernsun Asset Management LLC lowered its stake in The Timken Company (NYSE:TKR - Free Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 499,166 shares of the industrial products company's stock after selling 7,338 shares during the quarter. Timken comprises 5.0% of Southernsun Asset Management LLC's portfolio, making the stock its 9th biggest holding. Southernsun Asset Management LLC owned 0.71% of Timken worth $42,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TKR. Cubist Systematic Strategies LLC bought a new stake in Timken in the 2nd quarter worth approximately $4,363,000. American Century Companies Inc. lifted its stake 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 acquiring an additional 128,791 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Timken during the third quarter valued at $2,863,000. Hsbc Holdings PLC boosted its position in Timken by 102.5% in the 2nd quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company's stock valued at $979,000 after buying an additional 6,167 shares during the period. Finally, D.A. Davidson & CO. grew its stake in Timken by 14.5% in the third quarter. D.A. Davidson & CO. now owns 58,588 shares of the industrial products company's stock worth $4,938,000 after purchasing an additional 7,406 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred 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 completion of the sale, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.70% of the company's stock.

Timken Stock Up 0.0 %

NYSE:TKR traded up $0.01 during mid-day trading on Friday, hitting $76.12. 330,956 shares of the company's stock traded hands, compared to its average volume of 485,118. The company has a fifty day moving average of $80.45 and a 200 day moving average of $82.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The Timken Company has a twelve month low of $72.35 and a twelve month high of $94.71. The company has a market capitalization of $5.34 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.15 and a beta of 1.38.

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 (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The business's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. On average, analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

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

Analyst Upgrades and Downgrades

TKR has been the topic of several research reports. Citigroup initiated coverage on Timken in a research note on Monday, October 14th. They set 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 upped their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.00.

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.