The Timken Company (NYSE:TKR) Stock Holdings Reduced by Burney Co.

Burney Co. cut its position in shares of The Timken Company (NYSE:TKR) by 7.4% in the second quarter, Holdings Channel reports. The firm owned 10,255 shares of the industrial products company’s stock after selling 816 shares during the period. Burney Co.’s holdings in Timken were worth $822,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after acquiring an additional 347,794 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Timken by 15.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock valued at $105,247,000 after purchasing an additional 178,870 shares during the last quarter. Fiduciary Management Inc. WI boosted its holdings in Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after purchasing an additional 551,097 shares in the last quarter. Norges Bank acquired a new position in Timken during the fourth quarter worth $56,995,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Timken by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 625,592 shares of the industrial products company’s stock valued at $50,141,000 after buying an additional 11,057 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Timken stock traded up $1.25 on Thursday, reaching $84.19. The company’s stock had a trading volume of 152,249 shares, compared to its average volume of 471,078. The business’s fifty day moving average price is $82.31 and its 200 day moving average price is $84.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.82 and a beta of 1.46. The Timken Company has a twelve month low of $65.71 and a twelve month high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. Equities analysts expect that The Timken Company will post 6.13 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Tuesday, August 20th. Timken’s dividend payout ratio is currently 25.90%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TKR. Loop Capital upped their price target on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Evercore ISI lowered their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Raymond James started coverage on shares of Timken in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Stifel Nicolaus upped their price target on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, KeyCorp lifted their price objective on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.18.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the transaction, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is currently owned by corporate insiders.

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.