Fiduciary Financial Group LLC Acquires 335 Shares of The Timken Company (NYSE:TKR)

Fiduciary Financial Group LLC lifted its holdings in shares of The Timken Company (NYSE:TKR) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,098 shares of the industrial products company’s stock after purchasing an additional 335 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Timken were worth $333,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TKR. Fidelis Capital Partners LLC purchased a new position in Timken in the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares in the last quarter. Versant Capital Management Inc bought a new position in Timken in the second quarter valued at $30,000. Livelsberger Financial Advisory purchased a new stake in Timken during the fourth quarter valued at about $30,000. Finally, UMB Bank n.a. lifted its stake in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Trading Up 2.6 %

TKR opened at $84.04 on Friday. The Timken Company has a one year low of $65.71 and a one year high of $94.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The business has a 50 day simple moving average of $82.11 and a two-hundred day simple moving average of $84.20. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.77 and a beta of 1.43.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 earnings per share. Analysts predict that The Timken Company will post 6.09 EPS for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is currently 27.87%.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the sale, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James initiated coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating for the company. DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a research note on Tuesday, September 17th. Finally, Evercore ISI cut their price target 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $90.70.

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.