The Timken Company (NYSE:TKR) Shares Sold by WESCAP Management Group Inc.

WESCAP Management Group Inc. cut its holdings in The Timken Company (NYSE:TKR) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,247 shares of the industrial products company’s stock after selling 248 shares during the quarter. WESCAP Management Group Inc.’s holdings in Timken were worth $1,382,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Timken during the fourth quarter worth $56,995,000. Fiduciary Management Inc. WI lifted its holdings in Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after purchasing an additional 551,097 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Timken by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after purchasing an additional 347,794 shares during the last quarter. Interval Partners LP purchased a new stake in shares of Timken during the first quarter worth about $22,907,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Timken by 6,368.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 193,790 shares of the industrial products company’s stock valued at $15,532,000 after buying an additional 190,794 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the sale, the chief executive officer now owns 244,485 shares in the company, valued at $19,671,263.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by corporate insiders.

Timken Trading Up 1.2 %

NYSE TKR opened at $79.77 on Friday. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.69 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The Timken Company has a one year low of $65.71 and a one year high of $94.71. The company’s 50 day moving average price is $82.35 and its 200 day moving average price is $84.58.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business posted $2.01 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. On average, sell-side analysts predict that The Timken Company will post 6.13 EPS for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.70%. Timken’s payout ratio is currently 25.90%.

Wall Street Analyst Weigh In

Several research firms have commented on TKR. KeyCorp lifted their target price on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Evercore ISI lowered their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Raymond James began coverage on Timken in a research report on Friday, June 28th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.18.

Timken Profile

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.