Municipal Employees Retirement System of Michigan decreased its position in Timken Company (The) (NYSE:TKR) by 16.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,090 shares of the industrial products company’s stock after selling 5,360 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Timken Company (The) were worth $1,253,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Affinity Investment Advisors LLC acquired a new stake in Timken Company (The) during the second quarter valued at $2,505,000. ING Groep NV acquired a new stake in Timken Company (The) during the second quarter valued at $395,000. Russell Investments Group Ltd. boosted its stake in Timken Company (The) by 15.5% in the second quarter. Russell Investments Group Ltd. now owns 117,026 shares of the industrial products company’s stock valued at $5,413,000 after buying an additional 15,714 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in Timken Company (The) during the second quarter valued at $393,000. Finally, Quantitative Systematic Strategies LLC boosted its stake in Timken Company (The) by 7.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 9,233 shares of the industrial products company’s stock valued at $420,000 after buying an additional 644 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors and hedge funds.

Timken Company (TKR) opened at 45.00 on Wednesday. Timken Company has a one year low of $31.60 and a one year high of $51.75. The stock has a market capitalization of $3.50 billion, a PE ratio of 22.33 and a beta of 1.38. The company’s 50 day moving average price is $46.62 and its 200-day moving average price is $45.57.

Timken Company (The) (NYSE:TKR) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $750.60 million for the quarter, compared to the consensus estimate of $716.50 million. Timken Company (The) had a return on equity of 12.73% and a net margin of 5.98%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts expect that Timken Company will post $2.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.40%. Timken Company (The)’s dividend payout ratio is currently 51.67%.

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Several analysts have weighed in on the company. ValuEngine raised Timken Company (The) from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub cut Timken Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) cut Timken Company (The) from a “conviction-buy” rating to a “buy” rating in a report on Monday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $53.00 price target on shares of Timken Company (The) in a report on Friday, June 30th. Finally, Zacks Investment Research raised Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.50.

In related news, Director Jacqueline F. Woods sold 1,300 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $46.02, for a total value of $59,826.00. Following the sale, the director now directly owns 19,249 shares in the company, valued at $885,838.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.08% of the stock is currently owned by insiders.

Timken Company (The) Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

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Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

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