Timken (NYSE:TKR) Reaches New 1-Year Low - Here's Why

The Timken Company (NYSE:TKR - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $67.50 and last traded at $67.93, with a volume of 131906 shares traded. The stock had previously closed at $71.87.

Analyst Ratings Changes

A number of research analysts have recently commented on TKR shares. Morgan Stanley lifted their price objective on shares of Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered their price target on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday. Bank of America raised Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Citigroup cut their price target on Timken from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.82.

Timken Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The business's 50-day moving average is $77.42 and its 200 day moving average is $78.01. The firm has a market capitalization of $4.19 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37.

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Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's payout ratio is currently 27.25%.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Timken

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Timken by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock valued at $461,461,000 after purchasing an additional 26,973 shares in the last quarter. American Century Companies Inc. boosted its stake in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after buying an additional 320,354 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Timken by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock valued at $159,403,000 after acquiring an additional 124,676 shares during the last quarter. State Street Corp lifted its holdings in shares of Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock worth $164,689,000 after acquiring an additional 66,208 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Timken by 0.3% in the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock valued at $92,433,000 after purchasing an additional 3,594 shares in the last quarter. Institutional investors and hedge funds own 89.08% 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.