Timken Co (NYSE:TKR) announced a quarterly dividend on Friday, February 9th, RTT News reports. Stockholders of record on Tuesday, February 20th will be paid a dividend of 0.27 per share by the industrial products company on Friday, March 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, February 16th.
Timken has raised its dividend by an average of 2.3% per year over the last three years and has raised its dividend every year for the last 4 years. Timken has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Timken to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 29.2%.
Shares of Timken (NYSE:TKR) opened at $44.45 on Friday. The company has a market cap of $3,450.08, a PE ratio of 16.97, a PEG ratio of 1.18 and a beta of 1.44. Timken has a twelve month low of $41.78 and a twelve month high of $55.65. The company has a current ratio of 2.23, a quick ratio of 1.38 and a debt-to-equity ratio of 0.58.
Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $767.98 million. Timken had a net margin of 6.77% and a return on equity of 14.55%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. research analysts predict that Timken will post 3.25 EPS for the current year.
A number of equities research analysts have recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Timken from $53.00 to $52.00 and set a “hold” rating for the company in a report on Thursday. Zacks Investment Research downgraded shares of Timken from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Jefferies Group restated a “hold” rating and issued a $50.00 target price on shares of Timken in a report on Thursday, October 26th. Finally, Longbow Research upgraded shares of Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Timken currently has a consensus rating of “Hold” and an average price target of $52.25.
In related news, insider Richard G. Kyle sold 9,242 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now directly owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.08% of the stock is currently owned by insiders.
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Timken Company Profile
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.
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