Timken Company (The) (TKR) Stake Decreased by Rhumbline Advisers
Rhumbline Advisers lowered its position in Timken Company (The) (NYSE:TKR) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,419 shares of the industrial products company’s stock after selling 3,962 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Timken worth $6,477,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in TKR. Capstone Asset Management Co. grew its stake in Timken by 2.4% in the second quarter. Capstone Asset Management Co. now owns 5,605 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 130 shares in the last quarter. Bank of Montreal Can boosted its position in Timken by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 303 shares in the last quarter. LS Investment Advisors LLC boosted its position in Timken by 17.2% during the 2nd quarter. LS Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 820 shares in the last quarter. State Treasurer State of Michigan boosted its position in Timken by 1.8% during the 2nd quarter. State Treasurer State of Michigan now owns 28,900 shares of the industrial products company’s stock valued at $1,337,000 after acquiring an additional 500 shares in the last quarter. Finally, US Bancorp DE boosted its position in Timken by 10.1% during the 2nd quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 390 shares in the last quarter. 79.27% of the stock is currently owned by institutional investors.
Timken Company (NYSE:TKR) traded down $0.70 during midday trading on Friday, hitting $49.20. The company’s stock had a trading volume of 738,896 shares, compared to its average volume of 782,632. The stock has a market cap of $3,820.00, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.61 and a beta of 1.47. Timken Company has a twelve month low of $38.75 and a twelve month high of $53.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38.
Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Timken had a return on equity of 13.75% and a net margin of 6.88%. The firm had revenue of $771.40 million during the quarter, compared to analyst estimates of $758.91 million. During the same quarter in the previous year, the business earned $0.53 EPS. Timken’s revenue for the quarter was up 17.3% compared to the same quarter last year. sell-side analysts expect that Timken Company will post 2.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.08 annualized dividend and a dividend yield of 2.20%. Timken’s dividend payout ratio is presently 43.03%.
In related news, insider Richard G. Kyle sold 9,242 shares of Timken stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the sale, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.08% of the stock is owned by insiders.
Several brokerages have issued reports on TKR. BidaskClub cut Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, September 28th. Goldman Sachs Group lowered Timken from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $55.00 to $51.00 in a research note on Monday, August 7th. Jefferies Group restated a “hold” rating and issued a $50.00 target price on shares of Timken in a research note on Thursday, October 26th. Finally, ValuEngine lowered Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $52.00.
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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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