Beese Fulmer Investment Management Inc. Purchases 155 Shares of The Timken Company (NYSE:TKR)

Beese Fulmer Investment Management Inc. grew its position in The Timken Company (NYSE:TKR) by 1.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,208 shares of the industrial products company’s stock after purchasing an additional 155 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Timken were worth $1,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in Timken in the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 343 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Timken during the second quarter valued at $30,000. Livelsberger Financial Advisory bought a new stake in Timken in the 3rd quarter worth about $32,000. Finally, UMB Bank n.a. raised its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TKR shares. Raymond James assumed coverage on shares of Timken in a report on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI decreased their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup initiated coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, DA Davidson reiterated a “buy” rating and set a $103.00 price objective on shares of Timken in a research report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $91.70.

Timken Stock Performance

Shares of TKR opened at $84.07 on Thursday. The Timken Company has a 52 week low of $65.71 and a 52 week high of $94.71. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.92 and a beta of 1.43. The business has a 50-day simple moving average of $82.85 and a two-hundred day simple moving average of $84.10.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 EPS. On average, analysts expect that The Timken Company will post 6.05 EPS for the current year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.34 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a yield of 1.62%. Timken’s payout ratio is 27.87%.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.70% of the company’s stock.

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.