Ajo LP bought a new stake in shares of Timken Company (The) (NYSE:TKR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 832,100 shares of the industrial products company’s stock, valued at approximately $38,485,000. Ajo LP owned 1.07% of Timken Company (The) at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. World Asset Management Inc raised its holdings in Timken Company (The) by 0.3% during the 1st quarter. World Asset Management Inc now owns 5,194 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 18 shares during the period. Teacher Retirement System of Texas raised its holdings in Timken Company (The) by 0.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,618 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 26 shares during the period. Honkamp Krueger Financial Services Inc. raised its holdings in Timken Company (The) by 0.6% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 6,510 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 41 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Timken Company (The) by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,244 shares of the industrial products company’s stock valued at $474,000 after acquiring an additional 47 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in Timken Company (The) by 0.4% during the 1st quarter. OppenheimerFunds Inc. now owns 14,570 shares of the industrial products company’s stock valued at $659,000 after acquiring an additional 64 shares during the period. 79.62% of the stock is currently owned by institutional investors and hedge funds.

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TKR has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) cut shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and lowered their target price for the company from $55.00 to $51.00 in a report on Monday, August 7th. BidaskClub cut shares of Timken Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. ValuEngine cut shares of Timken Company (The) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus reissued a “hold” rating and set a $53.00 target price on shares of Timken Company (The) in a report on Friday, June 30th. Finally, Zacks Investment Research lowered shares of Timken Company (The) from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $46.83.

Timken Company (TKR) opened at 45.70 on Wednesday. Timken Company has a 52-week low of $31.60 and a 52-week high of $51.75. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 22.68 and a beta of 1.37. The stock’s 50 day moving average is $44.68 and its 200-day moving average is $45.54.

Timken Company (The) (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $750.60 million for the quarter, compared to the consensus estimate of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. Equities research analysts anticipate that Timken Company will post $2.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. Timken Company (The)’s payout ratio is 51.67%.

About Timken Company (The)

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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