Ceredex Value Advisors LLC Boosts Stock Position in The Timken Company (NYSE:TKR)

Ceredex Value Advisors LLC grew its holdings in The Timken Company (NYSE:TKR) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,307 shares of the industrial products company’s stock after purchasing an additional 7,500 shares during the period. Ceredex Value Advisors LLC’s holdings in Timken were worth $14,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TKR. Fidelis Capital Partners LLC purchased a new stake in Timken in the 1st quarter valued at about $26,000. Versant Capital Management Inc purchased a new stake in shares of Timken in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the period. Livelsberger Financial Advisory bought a new stake in Timken during the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. lifted its holdings 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 worth $36,000 after buying an additional 168 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research reports. Evercore ISI cut their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup assumed coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, DA Davidson restated a “buy” rating and set a $103.00 target price on shares of Timken in a report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.70.

Insider Activity

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the transaction, the chief executive officer now owns 244,485 shares in the company, valued at $19,671,263.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

Timken Trading Up 0.2 %

Shares of NYSE:TKR opened at $83.15 on Friday. 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 firm has a market capitalization of $5.83 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.89 and a beta of 1.43. The business’s 50-day moving average is $83.01 and its 200 day moving average is $84.01. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. Timken’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.01 EPS. On average, research analysts predict that The Timken Company will post 6.05 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.64%. Timken’s payout ratio is currently 27.87%.

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.