Van ECK Associates Corp Raises Stock Holdings in The Timken Company (NYSE:TKR)

Van ECK Associates Corp increased its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 40.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,861 shares of the industrial products company's stock after buying an additional 10,532 shares during the period. Van ECK Associates Corp owned about 0.05% of Timken worth $3,100,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Timken by 5.6% in the first 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. increased its stake in shares of Timken by 4.8% in the second 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 increased its stake in shares of Timken by 4.9% in the second 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 shares of Timken by 2.1% in the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company's stock worth $105,957,000 after purchasing an additional 26,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Timken by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company's stock worth $42,402,000 after purchasing an additional 3,462 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of several recent research reports. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday. Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a "neutral" rating and a $90.00 price objective for the company. KeyCorp cut their price objective on shares of Timken from $104.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday. DA Davidson cut their price objective on shares of Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Evercore ISI cut their price objective on shares of Timken from $94.00 to $87.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Timken presently has an average rating of "Hold" and a consensus target price of $89.60.

Timken Trading Down 0.2 %

Shares of TKR traded down $0.15 during mid-day trading on Friday, reaching $76.85. The company's stock had a trading volume of 679,690 shares, compared to its average volume of 604,614. The stock has a market cap of $5.39 billion, a PE ratio of 15.98, a P/E/G ratio of 1.14 and a beta of 1.43. The company has a current ratio of 3.00, a quick ratio of 1.64 and a debt-to-equity ratio of 0.71. The Timken Company has a 52 week low of $70.15 and a 52 week high of $94.71. The company's fifty day moving average price is $82.41 and its two-hundred day moving average price is $83.74.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken 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.