AGF Management Ltd. Sells 5,825 Shares of Timken Company (The) $TKR

AGF Management Ltd. decreased its position in shares of Timken Company (The) (NYSE:TKR) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 478,576 shares of the industrial products company’s stock after selling 5,825 shares during the period. AGF Management Ltd. owned approximately 0.69% of Timken worth $35,979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Timken by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock worth $278,968,000 after purchasing an additional 455,050 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Timken by 34.8% during the third quarter. Bank of New York Mellon Corp now owns 1,493,167 shares of the industrial products company’s stock valued at $112,256,000 after buying an additional 385,389 shares during the period. Cooke & Bieler LP boosted its position in shares of Timken by 28.6% during the third quarter. Cooke & Bieler LP now owns 1,423,361 shares of the industrial products company’s stock valued at $107,008,000 after buying an additional 316,380 shares during the period. Channing Capital Management LLC grew its stake in shares of Timken by 4.2% during the second quarter. Channing Capital Management LLC now owns 1,128,658 shares of the industrial products company’s stock valued at $81,884,000 after buying an additional 44,992 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Timken by 3.6% in the second quarter. Brown Advisory Inc. now owns 901,988 shares of the industrial products company’s stock worth $65,439,000 after buying an additional 31,495 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 15,837 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total transaction of $1,283,272.11. Following the sale, the director owned 266,942 shares of the company’s stock, valued at approximately $21,630,310.26. This trade represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Timken Stock Up 1.9%

Shares of Timken stock opened at $94.98 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.11 and a quick ratio of 1.71. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.82 and a beta of 1.21. The firm’s 50-day moving average is $87.78 and its two-hundred day moving average is $80.70. Timken Company has a 1 year low of $56.20 and a 1 year high of $95.31.

Timken Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Timken from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a research note on Wednesday, January 21st. Oppenheimer raised their price target on shares of Timken from $90.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. lifted their price objective on shares of Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Citigroup upped their target price on shares of Timken from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.30.

About Timken

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.