Timken Company (The) (TKR) Stake Held by Coastline Trust Co

Coastline Trust Co held its stake in Timken Company (The) (NYSE:TKR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,495 shares of the industrial products company’s stock at the close of the second quarter. Coastline Trust Co’s holdings in Timken Company (The) were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. World Asset Management Inc boosted its holdings in Timken Company (The) by 0.3% in the first quarter. World Asset Management Inc now owns 5,194 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 18 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Timken Company (The) by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 5,618 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 26 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its holdings in Timken Company (The) by 0.6% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 6,510 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 41 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Timken Company (The) by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,244 shares of the industrial products company’s stock valued at $474,000 after purchasing an additional 47 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in Timken Company (The) by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 14,570 shares of the industrial products company’s stock valued at $659,000 after purchasing an additional 64 shares during the last quarter. 79.62% of the stock is owned by hedge funds and other institutional investors.

Shares of Timken Company (TKR) opened at 45.95 on Thursday. Timken Company has a 52-week low of $31.60 and a 52-week high of $51.75. The firm has a market capitalization of $3.58 billion, a P/E ratio of 22.80 and a beta of 1.37. The company’s 50-day moving average price is $44.60 and its 200-day moving average price is $45.56.

Timken Company (The) (NYSE:TKR) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $750.60 million for the quarter, compared to analysts’ expectations of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. Timken Company (The)’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities research analysts expect that Timken Company will post $2.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 22nd were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.35%. Timken Company (The)’s payout ratio is 51.67%.

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A number of research analysts recently commented on the company. ValuEngine downgraded Timken Company (The) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded Timken Company (The) from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Goldman Sachs Group, Inc. (The) downgraded Timken Company (The) from a “conviction-buy” rating to a “buy” rating and reduced their price target for the company from $55.00 to $51.00 in a report on Monday, August 7th. Zacks Investment Research upgraded Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “hold” rating and set a $45.00 price objective on shares of Timken Company (The) in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $46.83.

About Timken Company (The)

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

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