Timken Co (NYSE:TKR) dropped 6.4% on Friday . The company traded as low as $41.58 and last traded at $41.63. Approximately 1,162,888 shares changed hands during trading, an increase of 55% from the average daily volume of 751,664 shares. The stock had previously closed at $44.48.
TKR has been the subject of a number of research analyst reports. Bank of America upgraded shares of Timken from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $50.00 in a report on Monday, December 3rd. ValuEngine upgraded shares of Timken from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research lowered shares of Timken from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Timken presently has a consensus rating of “Hold” and a consensus target price of $52.43.
The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.76 and a beta of 1.76. The company has a current ratio of 2.53, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.
Timken (NYSE:TKR) last posted its earnings results on Thursday, February 7th. The industrial products company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). The business had revenue of $910.10 million for the quarter, compared to analysts’ expectations of $924.65 million. Timken had a net margin of 8.46% and a return on equity of 20.54%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. On average, equities analysts expect that Timken Co will post 4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Wednesday, February 20th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Tuesday, February 19th. Timken’s dividend payout ratio (DPR) is 26.79%.
A number of hedge funds and other institutional investors have recently bought and sold shares of TKR. Russell Investments Group Ltd. increased its position in Timken by 201.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 26,845 shares of the industrial products company’s stock valued at $1,339,000 after purchasing an additional 17,948 shares during the period. JPMorgan Chase & Co. increased its position in Timken by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 215,915 shares of the industrial products company’s stock valued at $10,763,000 after purchasing an additional 12,231 shares during the period. Commonwealth Bank of Australia purchased a new position in shares of Timken during the third quarter worth approximately $568,000. Bank of New York Mellon Corp lifted its holdings in shares of Timken by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 1,033,750 shares of the industrial products company’s stock worth $51,533,000 after purchasing an additional 34,605 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Timken during the third quarter worth $3,988,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.
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About Timken (NYSE:TKR)
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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