FORA Capital LLC Takes $281,000 Position in The Timken Company (NYSE:TKR)

FORA Capital LLC bought a new stake in The Timken Company (NYSE:TKR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,336 shares of the industrial products company’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its stake in shares of Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Timken by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the period. Earnest Partners LLC lifted its stake in shares of Timken by 2.1% in the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock valued at $105,957,000 after purchasing an additional 26,671 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Timken by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company’s stock valued at $54,784,000 after purchasing an additional 1,989 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling

In other 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is currently owned by company insiders.

Timken Trading Up 0.8 %

Shares of Timken stock opened at $77.45 on Friday. The firm has a market cap of $5.43 billion, a PE ratio of 16.10, a P/E/G ratio of 1.14 and a beta of 1.43. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The Timken Company has a fifty-two week low of $72.14 and a fifty-two week high of $94.71. The business’s fifty day moving average is $81.06 and its two-hundred day moving average is $82.52.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company posted $1.55 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.76%. Timken’s payout ratio is 28.27%.

Analyst Ratings Changes

Several brokerages recently commented on TKR. Oppenheimer reduced their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, Citigroup started coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price for the company. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $90.00.

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.