Royce & Associates LP Increases Position in The Timken Company (NYSE:TKR)

Royce & Associates LP boosted its holdings in shares of The Timken Company (NYSE:TKR) by 73.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,456 shares of the industrial products company’s stock after acquiring an additional 80,513 shares during the period. Royce & Associates LP owned 0.27% of Timken worth $16,054,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TKR. Envestnet Portfolio Solutions Inc. grew its stake in Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 155 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Timken by 29.4% in the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after buying an additional 31,552 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Timken by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 82,653 shares of the industrial products company’s stock valued at $6,754,000 after buying an additional 4,262 shares during the period. Chesapeake Capital Corp IL purchased a new stake in shares of Timken in the 1st quarter valued at approximately $499,000. Finally, Vanguard Group Inc. grew its stake in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after buying an additional 347,794 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction 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 directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. 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 research note on Wednesday. KeyCorp dropped their price target 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. Oppenheimer dropped their price target 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. Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, DA Davidson decreased their price objective 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $90.00.

Timken Stock Performance

Shares of TKR stock opened at $75.59 on Friday. The firm has a market cap of $5.30 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.11 and a beta of 1.43. The Timken Company has a one year low of $71.57 and a one year high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm’s 50 day moving average price is $81.89 and its 200-day moving average price is $83.40.

Timken (NYSE:TKR) last released its earnings results 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 business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. As a group, equities research analysts predict that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.80%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

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.