Christopher A. Coughlin Sells 29,006 Shares of The Timken Company (NYSE:TKR) Stock

The Timken Company (NYSE:TKR) EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now owns 84,995 shares in the company, valued at $7,590,053.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Timken Price Performance

Shares of NYSE TKR opened at $89.71 on Tuesday. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The business’s 50 day moving average price is $86.12 and its 200 day moving average price is $80.06. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.32 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, sell-side analysts expect that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be given a dividend of $0.34 per share. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio (DPR) is currently 25.90%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in shares of Timken by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock valued at $134,233,000 after purchasing an additional 131,253 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Timken by 15.8% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock valued at $105,247,000 after buying an additional 178,870 shares in the last quarter. Fiduciary Management Inc. WI raised its position in shares of Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after acquiring an additional 551,097 shares during the period. AQR Capital Management LLC boosted its stake in shares of Timken by 16.8% during the 3rd quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock worth $56,159,000 after acquiring an additional 109,767 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Timken during the 4th quarter valued at about $56,995,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. DA Davidson started coverage on shares of Timken in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 target price for the company. StockNews.com cut Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Stifel Nicolaus upped their target price on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their price target on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Finally, Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective on the stock. in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.09.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.