Two Sigma Advisers LP Sells 20,500 Shares of The Timken Company (NYSE:TKR)

Two Sigma Advisers LP decreased its position in The Timken Company (NYSE:TKR - Free Report) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,891 shares of the industrial products company's stock after selling 20,500 shares during the quarter. Two Sigma Advisers LP owned approximately 0.32% of Timken worth $18,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TKR. Coastline Trust Co purchased a new stake in Timken in the third quarter worth $29,000. Livelsberger Financial Advisory bought a new position in Timken in the 3rd quarter worth $32,000. UMB Bank n.a. lifted its position in shares of Timken by 64.1% in the 3rd 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Timken during the 2nd quarter valued at about $44,000. Finally, Brooklyn Investment Group purchased a new position in shares of Timken during the third quarter valued at about $74,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Up 2.8 %

Shares of TKR traded up $2.14 during trading hours on Monday, hitting $78.48. The company had a trading volume of 557,861 shares, compared to its average volume of 487,193. The Timken Company has a 52-week low of $72.35 and a 52-week high of $94.71. The firm has a fifty day moving average price of $80.28 and a 200-day moving average price of $81.78. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.13 and a beta of 1.39. 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 issued its earnings results 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). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The company's quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken's dividend payout ratio is currently 28.27%.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of several research analyst reports. Evercore ISI upgraded shares of Timken from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and raised their target price for the company from $80.00 to $95.00 in a research note on Friday. Oppenheimer reduced their price target on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. KeyCorp reissued a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Finally, Citigroup raised shares of Timken from a "neutral" rating to a "buy" rating and upped their target price for the stock from $85.00 to $90.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.