Shelton Capital Management acquired a new stake in The Timken Company (NYSE:TKR) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,084 shares of the industrial products company’s stock, valued at approximately $221,000.
A number of other large investors have also added to or reduced their stakes in TKR. Nuveen Asset Management LLC boosted its stake in shares of The Timken by 639.8% during the second quarter. Nuveen Asset Management LLC now owns 2,983,841 shares of the industrial products company’s stock valued at $135,735,000 after purchasing an additional 2,580,492 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of The Timken by 231.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,208,038 shares of the industrial products company’s stock valued at $54,953,000 after purchasing an additional 843,154 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of The Timken by 358.1% during the third quarter. Principal Financial Group Inc. now owns 981,050 shares of the industrial products company’s stock valued at $53,191,000 after purchasing an additional 766,883 shares in the last quarter. Copper Rock Capital Partners LLC boosted its stake in shares of The Timken by 178.4% during the second quarter. Copper Rock Capital Partners LLC now owns 838,509 shares of the industrial products company’s stock valued at $564,398,000 after purchasing an additional 537,346 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in shares of The Timken during the third quarter valued at about $15,086,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.
TKR has been the topic of a number of recent research reports. ValuEngine raised The Timken from a “sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Smith Barney Citigroup assumed coverage on The Timken in a research note on Monday, November 2nd. They set a “buy” rating and a $75.00 price target on the stock. Zacks Investment Research lowered The Timken from a “strong-buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a research note on Monday, October 19th. KeyCorp lifted their price objective on The Timken from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 13th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on The Timken in a research note on Monday, November 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.57.
In related news, EVP Ronald J. Myers sold 7,760 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $61.83, for a total transaction of $479,800.80. Following the transaction, the executive vice president now directly owns 32,758 shares of the company’s stock, valued at $2,025,427.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher A. Coughlin sold 48,280 shares of the stock in a transaction on Monday, November 16th. The stock was sold at an average price of $73.10, for a total transaction of $3,529,268.00. Following the transaction, the executive vice president now directly owns 123,407 shares in the company, valued at $9,021,051.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,554 shares of company stock worth $5,141,436. 11.62% of the stock is owned by insiders.
The Timken stock opened at $71.94 on Friday. The Timken Company has a one year low of $22.25 and a one year high of $73.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.02 and a quick ratio of 1.84. The stock’s 50 day moving average is $62.19 and its 200 day moving average is $51.45. The firm has a market cap of $5.42 billion, a P/E ratio of 17.13, a P/E/G ratio of 6.14 and a beta of 1.80.
The Timken (NYSE:TKR) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.90 by $0.23. The company had revenue of $894.60 million during the quarter, compared to the consensus estimate of $817.21 million. The Timken had a net margin of 9.06% and a return on equity of 16.41%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Equities analysts anticipate that The Timken Company will post 3.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Tuesday, November 24th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, November 23rd. This is a positive change from The Timken’s previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a yield of 1.61%. The Timken’s dividend payout ratio is currently 24.35%.
The Timken Profile
The Timken Company designs, manufactures, and manages engineered bearings and power transmission products and services worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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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