The Timken Company (NYSE:TKR) Short Interest Update

The Timken Company (NYSE:TKR) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 1,790,000 shares, an increase of 17.0% from the August 31st total of 1,530,000 shares. Based on an average daily volume of 476,700 shares, the short-interest ratio is currently 3.8 days. Approximately 2.8% of the company’s stock are short sold.

Timken Price Performance

TKR stock traded down $1.30 on Monday, hitting $83.67. 179,908 shares of the company’s stock traded hands, compared to its average volume of 474,786. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.80 and a beta of 1.44. Timken has a 1-year low of $65.71 and a 1-year high of $94.71. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $82.31 and a 200-day moving average of $84.42.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 EPS. On average, analysts forecast that Timken will post 6.11 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is 25.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TKR shares. DA Davidson reissued a “buy” rating and set a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Raymond James assumed coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Evercore ISI cut their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.18.

Insider Activity at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, 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 SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Several institutional investors and hedge funds have recently added to or reduced their stakes in TKR. Fidelis Capital Partners LLC acquired a new position in shares of Timken in the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new stake in Timken in the 4th quarter worth approximately $30,000. Versant Capital Management Inc acquired a new stake in shares of Timken during the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Timken in the second quarter worth $44,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.