Employees Retirement System of Texas Sells 49,000 Shares of Timken Company (The) (TKR)

Employees Retirement System of Texas decreased its holdings in shares of Timken Company (The) (NYSE:TKR) by 45.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,000 shares of the industrial products company’s stock after selling 49,000 shares during the period. Employees Retirement System of Texas owned about 0.07% of Timken Company (The) worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. HighTower Advisors LLC grew its position in shares of Timken Company (The) by 5.9% during the 2nd quarter. HighTower Advisors LLC now owns 12,809 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 710 shares during the period. Stifel Financial Corp grew its position in shares of Timken Company (The) by 20.0% during the 2nd quarter. Stifel Financial Corp now owns 264,296 shares of the industrial products company’s stock valued at $12,253,000 after acquiring an additional 44,105 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Timken Company (The) during the 2nd quarter valued at $352,000. Dimensional Fund Advisors LP grew its position in shares of Timken Company (The) by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,408 shares of the industrial products company’s stock valued at $85,117,000 after acquiring an additional 33,838 shares during the period. Finally, Virtu KCG Holdings LLC grew its position in shares of Timken Company (The) by 41.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 13,576 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 3,946 shares during the period. 79.62% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Employees Retirement System of Texas Sells 49,000 Shares of Timken Company (The) (TKR)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/10/employees-retirement-system-of-texas-sells-49000-shares-of-timken-company-the-tkr.html.

Shares of Timken Company (NYSE TKR) opened at 50.00 on Tuesday. Timken Company has a 12 month low of $31.60 and a 12 month high of $51.75. The stock’s 50 day moving average is $46.54 and its 200-day moving average is $46.07. The company has a market cap of $3.89 billion, a P/E ratio of 24.81 and a beta of 1.41.

Timken Company (The) (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $750.60 million for the quarter, compared to analyst estimates of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities analysts forecast that Timken Company will post $2.57 EPS for the current year.

A number of equities research analysts have recently issued reports on TKR shares. BidaskClub downgraded shares of Timken Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Timken Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine raised shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and s

Several other hedge funds have also modified their holdings of the company. HighTower Advisors LLC grew its position in shares of Timken Company (The) by 5.9% during the 2nd quarter. HighTower Advisors LLC now owns 12,809 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 710 shares during the period. Stifel Financial Corp grew its position in shares of Timken Company (The) by 20.0% during the 2nd quarter. Stifel Financial Corp now owns 264,296 shares of the industrial products company’s stock valued at $12,253,000 after acquiring an additional 44,105 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Timken Company (The) during the 2nd quarter valued at $352,000. Dimensional Fund Advisors LP grew its position in shares of Timken Company (The) by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,408 shares of the industrial products company’s stock valued at $85,117,000 after acquiring an additional 33,838 shares during the period. Finally, Virtu KCG Holdings LLC grew its position in shares of Timken Company (The) by 41.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 13,576 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 3,946 shares during the period. 79.62% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Employees Retirement System of Texas Sells 49,000 Shares of Timken Company (The) (TKR)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/10/employees-retirement-system-of-texas-sells-49000-shares-of-timken-company-the-tkr.html.

Shares of Timken Company (NYSE TKR) opened at 50.00 on Tuesday. Timken Company has a 12 month low of $31.60 and a 12 month high of $51.75. The stock’s 50 day moving average is $46.54 and its 200-day moving average is $46.07. The company has a market cap of $3.89 billion, a P/E ratio of 24.81 and a beta of 1.41.

Timken Company (The) (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $750.60 million for the quarter, compared to analyst estimates of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities analysts forecast that Timken Company will post $2.57 EPS for the current year.

A number of equities research analysts have recently issued reports on TKR shares. BidaskClub downgraded shares of Timken Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Timken Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine raised shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $53.00 price objective on shares of Timken Company (The) in a research report on Friday, June 30th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $45.00 price objective on shares of Timken Company (The) in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.67.

Timken Company (The) 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.

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

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