Kornitzer Capital Management Inc. KS Increases Holdings in Timken Company (The) $TKR

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Timken Company (The) (NYSE:TKR) by 54.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,750 shares of the industrial products company’s stock after purchasing an additional 3,810 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Timken were worth $780,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in TKR. CWM LLC grew its position in shares of Timken by 31.4% during the 2nd quarter. CWM LLC now owns 527 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 126 shares during the period. Verdence Capital Advisors LLC grew its holdings in Timken by 2.4% during the second quarter. Verdence Capital Advisors LLC now owns 6,083 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 140 shares during the period. Pinnacle Associates Ltd. increased its position in Timken by 0.6% in the first quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company’s stock worth $1,840,000 after buying an additional 155 shares during the last quarter. Ethic Inc. raised its stake in shares of Timken by 2.5% in the first quarter. Ethic Inc. now owns 7,056 shares of the industrial products company’s stock valued at $485,000 after buying an additional 174 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Timken by 2.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company’s stock valued at $537,000 after buying an additional 188 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. DA Davidson boosted their price objective on Timken from $71.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Evercore ISI set a $84.00 price target on shares of Timken and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a report on Friday. JPMorgan Chase & Co. began coverage on shares of Timken in a report on Monday, September 15th. They set a “neutral” rating and a $80.00 target price on the stock. Finally, Citigroup raised their price target on Timken from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.73.

Timken Stock Up 0.6%

TKR opened at $78.18 on Monday. The company has a fifty day moving average price of $76.39 and a 200-day moving average price of $73.32. The firm has a market capitalization of $5.44 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. Timken Company has a one year low of $56.20 and a one year high of $86.50.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08. Timken had a return on equity of 11.78% and a net margin of 6.86%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $1.63 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Equities research analysts expect that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. Timken’s payout ratio is presently 31.82%.

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.