Ceredex Value Advisors LLC Raises Position in The Timken Company (NYSE:TKR)

Ceredex Value Advisors LLC increased its holdings in shares of The Timken Company (NYSE:TKR) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,307 shares of the industrial products company’s stock after buying an additional 7,500 shares during the quarter. Ceredex Value Advisors LLC owned 0.25% of Timken worth $14,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares during the period. Interval Partners LP acquired a new position in Timken in the first quarter valued at approximately $22,907,000. American Century Companies Inc. raised its stake in shares of Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after acquiring an additional 128,791 shares during the period. Kodai Capital Management LP acquired a new position in Timken in the 1st quarter valued at about $9,130,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after acquiring an additional 97,550 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Price Performance

NYSE TKR opened at $83.15 on Friday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.43. The company 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 current ratio of 2.95 and a quick ratio of 1.64. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71.

Timken (NYSE:TKR) last issued its 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. Timken’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. Equities research analysts predict that The Timken Company will post 6.05 earnings per share for the current fiscal year.

Timken Dividend Announcement

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

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the sale, the chief executive officer now owns 244,485 shares in the company, valued at $19,671,263.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

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

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.