The Timken Company (TKR) To Go Ex-Dividend on November 19th

The Timken Company (NYSE:TKR) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Tuesday, November 19th will be paid a dividend of 0.34 per share by the industrial products company on Friday, November 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, November 19th.

Timken has increased its dividend by an average of 4.8% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Timken has a dividend payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Timken to earn $6.47 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 21.0%.

Timken Price Performance

Shares of NYSE TKR opened at $75.59 on Friday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.12 and a beta of 1.43. The business has a 50-day moving average of $81.89 and a 200-day moving average of $83.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. Timken has a fifty-two week low of $71.57 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. Timken’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, sell-side analysts predict that Timken will post 5.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp cut their target price on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Oppenheimer cut their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their target price for the company from $87.00 to $91.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Timken currently has a consensus rating of “Hold” and a consensus price target of $90.00.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

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.