Creative Planning Grows Holdings in The Timken Company (NYSE:TKR)

Creative Planning grew its holdings in shares of The Timken Company (NYSE:TKR) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,138 shares of the industrial products company’s stock after buying an additional 1,015 shares during the quarter. Creative Planning’s holdings in Timken were worth $855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TKR. Inspire Investing LLC raised its position in shares of Timken by 12.2% during the 3rd quarter. Inspire Investing LLC now owns 4,901 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 534 shares in the last quarter. Fiduciary Financial Group LLC raised its position in shares of Timken by 8.9% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,098 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 335 shares in the last quarter. UMB Bank n.a. raised its position in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Timken by 198.7% during the 3rd quarter. SG Americas Securities LLC now owns 8,685 shares of the industrial products company’s stock valued at $732,000 after acquiring an additional 5,777 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Timken during the 2nd quarter valued at approximately $44,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Trading Up 0.2 %

NYSE:TKR opened at $83.15 on Friday. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.89 and a beta of 1.43. The business has a fifty day moving average of $83.01 and a 200-day moving average of $84.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $2.01 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts predict that The Timken Company will post 6.05 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a yield of 1.64%. Timken’s dividend payout ratio is currently 27.87%.

Insider Activity at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Evercore ISI dropped their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup started coverage on Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $103.00 target price on shares of Timken in a research report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus price target of $91.70.

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.