The Timken Company (NYSE:TKR) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its stake in The Timken Company (NYSE:TKR) by 73.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,456 shares of the industrial products company’s stock after buying an additional 80,513 shares during the period. Royce & Associates LP’s holdings in Timken were worth $16,054,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TKR. Versant Capital Management Inc purchased a new position in shares of Timken in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC grew its position in shares of Timken by 1,905.6% in the 1st 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 last quarter. Livelsberger Financial Advisory purchased a new position in shares of Timken in the 3rd quarter valued at $32,000. UMB Bank n.a. grew its position in shares of Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Timken in the 2nd quarter valued at $44,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Stock Up 0.8 %

TKR stock opened at $75.59 on Friday. The Timken Company has a one year low of $71.57 and a one year high of $94.71. The stock has a market capitalization of $5.30 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. 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 company has a fifty day moving average of $81.89 and a 200-day moving average of $83.40.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $1.55 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is 28.27%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TKR shares. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday. DA Davidson lowered their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer lowered their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup started coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, KeyCorp lowered their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Timken currently has an average rating of “Hold” and an average price target of $90.00.

Insider Activity at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The shares were 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 approximately $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.