MQS Management LLC Raises Holdings in The Timken Company (NYSE:TKR)

MQS Management LLC increased its position in The Timken Company (NYSE:TKR) by 134.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,104 shares of the industrial products company’s stock after acquiring an additional 3,498 shares during the quarter. MQS Management LLC’s holdings in Timken were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Timken in the second quarter valued at approximately $4,363,000. Comerica Bank lifted its position in shares of Timken by 13.8% during the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after acquiring an additional 7,160 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 347,794 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Timken by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after purchasing an additional 31,552 shares during the period. Finally, American Century Companies Inc. boosted its stake in Timken by 4.8% in the 2nd 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 during the period. 89.08% of the stock is currently owned by institutional investors.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the company’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 transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of TKR stock opened at $74.50 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The Timken Company has a fifty-two week low of $71.57 and a fifty-two week high of $94.71. The stock has a 50 day moving average price of $82.03 and a two-hundred day moving average price of $83.53. The company has a market capitalization of $5.22 billion, a P/E ratio of 15.49, a PEG ratio of 1.11 and a beta of 1.43.

Timken (NYSE:TKR) 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 firm 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%. Timken’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.55 EPS. Analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is currently 28.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TKR shares. KeyCorp decreased their price target on Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer reduced their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and raised their price target for the company from $87.00 to $91.00 in a report on Wednesday. Finally, DA Davidson dropped their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Timken has an average rating of “Hold” and an average target price of $90.00.

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.