Keybank National Association OH Grows Stock Holdings in Timken Company (The) $TKR

Keybank National Association OH grew its position in Timken Company (The) (NYSE:TKR) by 107.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 727,777 shares of the industrial products company’s stock after buying an additional 377,607 shares during the quarter. Keybank National Association OH owned 1.04% of Timken worth $54,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Highland Capital Management LLC raised its position in Timken by 39.7% in the 2nd quarter. Highland Capital Management LLC now owns 59,260 shares of the industrial products company’s stock valued at $4,299,000 after purchasing an additional 16,840 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Timken during the third quarter worth approximately $22,624,000. Sequoia Financial Advisors LLC acquired a new stake in Timken in the second quarter valued at approximately $387,000. American Century Companies Inc. lifted its stake in Timken by 13.4% in the second quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock worth $278,968,000 after acquiring an additional 455,050 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Timken by 5.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 466,499 shares of the industrial products company’s stock worth $35,071,000 after acquiring an additional 25,235 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Down 1.1%

Shares of NYSE TKR opened at $93.10 on Friday. The business has a 50-day moving average price of $87.48 and a 200 day moving average price of $80.53. The stock has a market cap of $6.48 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.84 and a beta of 1.21. The company has a quick ratio of 1.71, a current ratio of 3.11 and a debt-to-equity ratio of 0.63. Timken Company has a 52-week low of $56.20 and a 52-week high of $95.19.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.25 by $0.12. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 11.88% and a net margin of 6.54%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. Equities research analysts forecast that Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 25th. Timken’s dividend payout ratio (DPR) is presently 33.10%.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 15,837 shares of Timken stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $81.03, for a total value of $1,283,272.11. Following the transaction, the director directly owned 266,942 shares in the company, valued at approximately $21,630,310.26. The trade was a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Timken from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a report on Wednesday, January 21st. Oppenheimer lifted their price target on Timken from $90.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Timken in a research report on Thursday, October 30th. Finally, DA Davidson increased their price objective on Timken from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Timken presently has an average rating of “Hold” and an average price target of $85.30.

Timken Company Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.