The Timken Company (NYSE:TKR) Shares Purchased by F M Investments LLC

F M Investments LLC raised its stake in shares of The Timken Company (NYSE:TKR) by 41.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,459 shares of the industrial products company’s stock after buying an additional 4,252 shares during the quarter. F M Investments LLC’s holdings in Timken were worth $1,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TKR. Ceredex Value Advisors LLC lifted its position in shares of Timken by 4.4% in the third quarter. Ceredex Value Advisors LLC now owns 177,307 shares of the industrial products company’s stock valued at $14,945,000 after acquiring an additional 7,500 shares in the last quarter. Weatherly Asset Management L. P. purchased a new position in Timken in the 3rd quarter valued at about $412,000. Stephens Inc. AR boosted its stake in shares of Timken by 11.7% during the 3rd quarter. Stephens Inc. AR now owns 9,349 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 977 shares during the last quarter. US Bancorp DE boosted its stake in shares of Timken by 9.6% during the 3rd quarter. US Bancorp DE now owns 3,550 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 310 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Timken by 6.5% during the third quarter. Pinnacle Associates Ltd. now owns 27,707 shares of the industrial products company’s stock worth $2,221,000 after buying an additional 1,682 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Timken Stock Up 0.2 %

Shares of 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 50-day simple moving average of $83.01 and a 200-day simple 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. The stock has a market capitalization of $5.83 billion, a P/E ratio of 17.04, a PEG ratio of 1.89 and a beta of 1.43.

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

Timken Announces Dividend

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

Timken Company 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.