The Timken Company (NYSE:TKR) Declares Quarterly Dividend of $0.34

The Timken Company (NYSE:TKR) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Tuesday, November 19th will be paid a dividend of 0.34 per share by the industrial products company on Friday, November 29th. This represents a $1.36 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, November 19th.

Timken has raised its dividend payment by an average of 4.8% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Timken has a dividend payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Timken to earn $6.47 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 21.0%.

Timken Price Performance

Shares of Timken stock opened at $75.59 on Friday. Timken has a twelve month low of $71.57 and a twelve month high of $94.71. The stock has a market capitalization of $5.30 billion, a P/E ratio of 15.72, a PEG ratio of 1.12 and a beta of 1.43. 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 business’s fifty day moving average price is $81.89 and its 200 day moving average price is $83.36.

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

Analyst Upgrades and Downgrades

TKR has been the topic of a number of analyst reports. Oppenheimer dropped their target price on 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 Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective for the company. KeyCorp lowered 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. DA Davidson lowered their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $87.00 to $91.00 in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.00.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.70% of the company’s stock.

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.