Timken Co. (TKR) Stake Maintained by Royce & Associates LP
Royce & Associates LP maintained its stake in Timken Co. (NYSE:TKR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,832 shares of the company’s stock at the end of the second quarter. Royce & Associates LP’s holdings in Timken were worth $209,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in TKR. Southernsun Asset Management LLC increased its stake in Timken by 5.3% in the first quarter. Southernsun Asset Management LLC now owns 5,296,043 shares of the company’s stock worth $177,364,000 after buying an additional 265,022 shares in the last quarter. Boston Partners increased its stake in Timken by 5.3% in the second quarter. Boston Partners now owns 3,608,430 shares of the company’s stock worth $110,634,000 after buying an additional 182,983 shares in the last quarter. LSV Asset Management increased its stake in Timken by 8.2% in the second quarter. LSV Asset Management now owns 1,447,745 shares of the company’s stock worth $44,387,000 after buying an additional 109,475 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Timken by 139.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,358,217 shares of the company’s stock worth $45,487,000 after buying an additional 790,671 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Timken by 717.7% in the first quarter. Teachers Advisors Inc. now owns 540,956 shares of the company’s stock worth $18,117,000 after buying an additional 474,802 shares in the last quarter. 75.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Timken Co. (NYSE:TKR) traded down 1.37% during mid-day trading on Friday, hitting $33.21. 217,282 shares of the company’s stock traded hands. Timken Co. has a 1-year low of $22.22 and a 1-year high of $37.07. The stock has a 50 day moving average price of $33.51 and a 200-day moving average price of $33.05. The stock has a market cap of $2.60 billion, a P/E ratio of 19.95 and a beta of 1.70.
Timken (NYSE:TKR) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Timken had a net margin of 4.88% and a return on equity of 12.98%. The business had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $693.64 million. During the same quarter last year, the company earned $0.57 EPS. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities research analysts anticipate that Timken Co. will post $1.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were issued a $0.26 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.09%. Timken’s dividend payout ratio (DPR) is presently 62.65%.
A number of analysts recently commented on TKR shares. Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, June 29th. Avondale Partners raised shares of Timken from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Monday, July 11th. Finally, Topeka Capital Markets started coverage on shares of Timken in a report on Thursday, May 26th. They set a “hold” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $33.33.
In related news, EVP William R. Burkhart sold 4,235 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $34.37, for a total value of $145,556.95. Following the sale, the executive vice president now owns 40,607 shares of the company’s stock, valued at approximately $1,395,662.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Philip D. Fracassa sold 2,229 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $34.27, for a total transaction of $76,387.83. Following the completion of the sale, the chief financial officer now directly owns 30,784 shares in the company, valued at approximately $1,054,967.68. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by corporate insiders.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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