Teachers Advisors LLC cut its position in shares of Timken Co (NYSE:TKR) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,962 shares of the industrial products company’s stock after selling 1,273 shares during the quarter. Teachers Advisors LLC owned approximately 0.10% of Timken worth $3,787,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Timken by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,033,750 shares of the industrial products company’s stock valued at $51,533,000 after purchasing an additional 34,605 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Timken by 34.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 8,231 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 2,131 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Timken by 20.4% during the 3rd quarter. Epoch Investment Partners Inc. now owns 647,559 shares of the industrial products company’s stock valued at $32,281,000 after purchasing an additional 109,535 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Timken during the 3rd quarter valued at about $215,000. Finally, BlackRock Inc. boosted its holdings in Timken by 0.4% during the 3rd quarter. BlackRock Inc. now owns 6,053,330 shares of the industrial products company’s stock valued at $301,759,000 after acquiring an additional 22,720 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.
TKR opened at $42.15 on Tuesday. The company has a market capitalization of $3.23 billion, a PE ratio of 10.08, a PEG ratio of 0.59 and a beta of 1.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.53 and a quick ratio of 1.31. Timken Co has a 52 week low of $33.98 and a 52 week high of $52.45.
Timken (NYSE:TKR) last released its earnings results on Thursday, February 7th. The industrial products company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). The firm had revenue of $910.10 million during the quarter, compared to analysts’ expectations of $924.65 million. Timken had a net margin of 8.46% and a return on equity of 20.54%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. As a group, research analysts expect that Timken Co will post 4.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Wednesday, February 20th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, February 19th. Timken’s dividend payout ratio (DPR) is presently 26.79%.
Several brokerages recently weighed in on TKR. Zacks Investment Research cut Timken from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. ValuEngine upgraded Timken from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Bank of America upgraded Timken from a “neutral” rating to a “buy” rating and set a $40.15 price objective for the company in a report on Sunday, December 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.43.
Timken Company Profile
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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