Trexquant Investment LP Sells 3,506 Shares of The Timken Company (NYSE:TKR)

Trexquant Investment LP lessened its stake in shares of The Timken Company (NYSE:TKRGet Rating) by 19.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,219 shares of the industrial products company’s stock after selling 3,506 shares during the quarter. Trexquant Investment LP’s holdings in Timken were worth $754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TKR. SG Americas Securities LLC increased its stake in shares of Timken by 50.0% in the 1st quarter. SG Americas Securities LLC now owns 22,769 shares of the industrial products company’s stock valued at $1,382,000 after buying an additional 7,593 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Timken by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 106,624 shares of the industrial products company’s stock worth $6,472,000 after acquiring an additional 6,325 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Timken by 12.2% during the first quarter. Victory Capital Management Inc. now owns 100,452 shares of the industrial products company’s stock worth $6,043,000 after acquiring an additional 10,950 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Timken by 4.8% during the first quarter. Advisor Group Holdings Inc. now owns 21,684 shares of the industrial products company’s stock worth $1,398,000 after acquiring an additional 988 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Timken by 101.7% during the first quarter. Russell Investments Group Ltd. now owns 948,844 shares of the industrial products company’s stock worth $57,596,000 after acquiring an additional 478,407 shares in the last quarter. Institutional investors own 81.39% of the company’s stock.

Insiders Place Their Bets

In other Timken news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the transaction, the executive vice president now owns 103,140 shares of the company’s stock, valued at $7,146,570.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Timken news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the transaction, the executive vice president now owns 103,140 shares of the company’s stock, valued at $7,146,570.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Hansal N. Patel sold 1,247 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $72.83, for a total value of $90,819.01. Following the transaction, the vice president now directly owns 6,309 shares in the company, valued at approximately $459,484.47. The disclosure for this sale can be found here. Insiders have sold a total of 67,244 shares of company stock valued at $4,853,869 over the last 90 days. 10.79% of the stock is currently owned by insiders.

Timken Price Performance

NYSE:TKR opened at $74.57 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 2.03. The stock’s 50-day simple moving average is $67.22 and its 200 day simple moving average is $62.80. The company has a market cap of $5.42 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.05 and a beta of 1.58. The Timken Company has a 52-week low of $50.85 and a 52-week high of $75.80.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 21st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, November 18th. Timken’s dividend payout ratio (DPR) is presently 24.90%.

Wall Street Analyst Weigh In

TKR has been the topic of a number of research reports. Oppenheimer boosted their price target on Timken from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, September 30th. KeyCorp boosted their price target on Timken from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley boosted their price target on Timken from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 27th. StockNews.com upgraded Timken from a “buy” rating to a “strong-buy” rating in a report on Friday, October 28th. Finally, Citigroup lifted their target price on Timken to $78.00 in a research report on Tuesday, November 1st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.63.

Timken Company Profile

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The Timken Company designs, manufactures, and manages engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

See Also

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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