Vestcor Inc Invests $560,000 in The Timken Company (NYSE:TKR)

Vestcor Inc purchased a new stake in The Timken Company (NYSE:TKR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,649 shares of the industrial products company's stock, valued at approximately $560,000.

Other institutional investors have also recently made changes to their positions in the company. Cetera Advisors LLC grew its holdings in Timken by 11.0% during the first quarter. Cetera Advisors LLC now owns 3,717 shares of the industrial products company's stock worth $325,000 after purchasing an additional 368 shares during the period. SG Americas Securities LLC acquired a new stake in Timken during the 2nd quarter valued at $233,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Timken by 6.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,968 shares of the industrial products company's stock valued at $398,000 after purchasing an additional 307 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Timken in the second quarter valued at about $191,000. Finally, Tributary Capital Management LLC boosted its holdings in shares of Timken by 72.8% during the 2nd quarter. Tributary Capital Management LLC now owns 7,240 shares of the industrial products company's stock worth $580,000 after buying an additional 3,050 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Performance

TKR traded down $0.48 on Friday, hitting $75.50. The company's stock had a trading volume of 337,610 shares, compared to its average volume of 486,958. The firm has a market cap of $5.29 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.38. The Timken Company has a 12 month low of $72.35 and a 12 month high of $94.71. The company's 50 day simple moving average is $79.64 and its 200-day simple moving average is $81.47. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. During the same quarter in the prior year, the firm earned $1.55 EPS. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. Analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The company 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. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. Timken's dividend payout ratio (DPR) is presently 28.27%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TKR shares. Evercore ISI upgraded Timken from an "in-line" rating to an "outperform" rating and upped their target price for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Oppenheimer reduced their price objective on shares of 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 report on Friday, November 22nd. DA Davidson cut their price target on shares of Timken from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Citigroup raised shares of Timken from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $85.00 to $90.00 in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on 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 sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company's stock.

About Timken

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.