Advisory Services Network LLC Reduces Stock Position in The Timken Company (NYSE:TKR)

Advisory Services Network LLC lowered its stake in shares of The Timken Company (NYSE:TKRFree Report) by 75.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,821 shares of the industrial products company’s stock after selling 8,848 shares during the period. Advisory Services Network LLC’s holdings in Timken were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TKR. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Timken in the fourth quarter worth $12,398,000. WCM Investment Management LLC raised its position in shares of Timken by 8.7% in the fourth quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock worth $16,443,000 after buying an additional 16,322 shares in the last quarter. Duality Advisers LP raised its position in shares of Timken by 226.3% in the fourth quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock worth $2,227,000 after buying an additional 19,274 shares in the last quarter. Foundry Partners LLC raised its position in shares of Timken by 5.6% in the fourth quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company’s stock worth $6,999,000 after buying an additional 4,598 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Timken by 64.5% in the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company’s stock worth $883,000 after buying an additional 4,712 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Down 2.1 %

Shares of NYSE:TKR opened at $83.73 on Wednesday. The stock’s 50-day moving average price is $87.73 and its 200-day moving average price is $82.89. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08. The stock has a market capitalization of $5.90 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.82 and a beta of 1.50. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKRGet Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. Timken’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. On average, equities analysts anticipate that The Timken Company will post 6.19 earnings per share for the current year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.34 dividend. The ex-dividend date was Monday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 1.62%. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Timken news, 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 value of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the sale, the chief financial officer now owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The disclosure for this sale can be found here. Insiders have sold 59,006 shares of company stock valued at $5,269,636 over the last ninety days. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TKR shares. The Goldman Sachs Group increased their price objective on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Loop Capital increased their target price on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and issued a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. Stifel Nicolaus increased their target price on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, StockNews.com cut Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Timken has a consensus rating of “Hold” and a consensus target price of $87.91.

Get Our Latest Report on TKR

Timken Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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