Victory Capital Management Inc. Reduces Holdings in The Timken Company (NYSE:TKR)

Victory Capital Management Inc. lowered its stake in The Timken Company (NYSE:TKR - Free Report) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,177 shares of the industrial products company's stock after selling 17,150 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Timken worth $14,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc bought a new position in Timken during the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company's stock valued at $32,000 after buying an additional 343 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Timken in the third quarter valued at approximately $32,000. UMB Bank n.a. boosted its holdings in Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 168 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Timken during the 2nd quarter worth approximately $44,000. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore ISI upgraded Timken from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. KeyCorp decreased their price objective on Timken from $104.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, November 6th. Oppenheimer decreased their price objective on Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. DA Davidson cut their target price on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup assumed coverage on Timken in a research report on Monday, October 14th. They set a "neutral" rating and a $90.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $90.00.

Timken Trading Up 0.6 %

Shares of TKR stock traded up $0.44 on Wednesday, reaching $73.94. 377,024 shares of the company's stock were exchanged, compared to its average volume of 487,244. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The company's fifty day simple moving average is $81.60 and its 200 day simple moving average is $83.05. The stock has a market capitalization of $5.18 billion, a PE ratio of 15.37, a P/E/G ratio of 1.12 and a beta of 1.43. The Timken Company has a 52 week low of $71.57 and a 52 week high of $94.71.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm 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%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 EPS. As a group, analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.84%. Timken's payout ratio is 28.27%.

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 30,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by company insiders.

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.