UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $16.26 Million Stock Position in The Timken Company (NYSE:TKR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in The Timken Company (NYSE:TKR) by 6.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 192,906 shares of the industrial products company’s stock after selling 14,366 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Timken worth $16,260,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Coastline Trust Co acquired a new stake in Timken in the 3rd quarter valued at about $29,000. Livelsberger Financial Advisory bought a new position in Timken in the 3rd quarter valued at about $32,000. UMB Bank n.a. raised its holdings in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Timken in the 2nd quarter valued at about $44,000. Finally, Brooklyn Investment Group bought a new position in Timken in the 3rd quarter valued at about $74,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Timken

In other Timken 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 value of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by insiders.

Timken Stock Performance

Shares of NYSE:TKR opened at $76.38 on Friday. The company’s 50 day simple moving average is $80.28 and its 200 day simple moving average is $81.91. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The Timken Company has a 1 year low of $72.35 and a 1 year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm 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%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.55 earnings per share. As a group, research analysts predict that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. Timken’s dividend payout ratio (DPR) is 28.27%.

Analyst Ratings Changes

Several research firms have weighed in on TKR. Citigroup began coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Oppenheimer lowered their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. DA Davidson lowered their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and increased their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $95.00 in a report on Friday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $91.00.

About Timken

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.