Timken (NYSE:TKR) Sets New 52-Week Low - What's Next?

Shares of The Timken Company (NYSE:TKR - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $70.13 and last traded at $70.27, with a volume of 23500 shares trading hands. The stock had previously closed at $71.48.

Analyst Ratings Changes

A number of research firms have weighed in on TKR. Citigroup raised shares of Timken from a "neutral" rating to a "buy" rating and raised their target price for the stock from $85.00 to $90.00 in a research note on Monday, December 9th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. KeyCorp restated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Oppenheimer cut their target price on Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, DA Davidson lowered their price target on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.90.

Timken Stock Down 0.8 %

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 business's 50 day moving average price is $77.22 and its 200-day moving average price is $80.58. The firm has a market capitalization of $4.97 billion, a PE ratio of 14.74, a P/E/G ratio of 1.12 and a beta of 1.38.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned $1.55 earnings per share. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed 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 1.92%. The ex-dividend date was Tuesday, November 19th. Timken's payout ratio is 28.27%.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares of the company's stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Timken

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TKR. Retirement Systems of Alabama boosted its holdings in shares of Timken by 1.1% in the 3rd quarter. Retirement Systems of Alabama now owns 176,643 shares of the industrial products company's stock valued at $14,889,000 after buying an additional 1,869 shares in the last quarter. Franklin Resources Inc. boosted its stake in Timken by 0.5% in the third quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company's stock valued at $3,502,000 after acquiring an additional 222 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Timken by 5.4% during the third quarter. Synovus Financial Corp now owns 8,286 shares of the industrial products company's stock worth $698,000 after purchasing an additional 423 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Timken during the third quarter worth about $172,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Timken during the third quarter worth about $409,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.