Stevens Capital Management LP lessened its stake in Timken Company (The) (NYSE:TKR) by 74.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,537 shares of the industrial products company’s stock after selling 16,463 shares during the quarter. Stevens Capital Management LP’s holdings in Timken were worth $269,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Teachers Advisors LLC lifted its stake in Timken by 9.0% in the first quarter. Teachers Advisors LLC now owns 209,964 shares of the industrial products company’s stock valued at $9,490,000 after acquiring an additional 17,346 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Timken by 2.4% in the second quarter. Capstone Asset Management Co. now owns 5,605 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 130 shares during the period. Bank of Montreal Can raised its position in shares of Timken by 6.8% in the second quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 303 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Timken by 4.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 25,950 shares of the industrial products company’s stock valued at $1,200,000 after purchasing an additional 1,068 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of Timken by 17.2% in the second quarter. LS Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 820 shares during the period. Institutional investors and hedge funds own 79.30% of the company’s stock.
A number of equities analysts recently commented on TKR shares. BidaskClub lowered shares of Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. ValuEngine lowered shares of Timken from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group reaffirmed a “hold” rating and set a $50.00 price target on shares of Timken in a research report on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $52.00.
Timken Company (NYSE:TKR) traded down $0.05 on Wednesday, hitting $48.80. 469,395 shares of the stock were exchanged, compared to its average volume of 783,258. Timken Company has a one year low of $38.90 and a one year high of $53.10. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The firm has a market cap of $3,884.74, a P/E ratio of 20.77, a P/E/G ratio of 1.65 and a beta of 1.49.
Timken (NYSE:TKR) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The business had revenue of $771.40 million for the quarter, compared to the consensus estimate of $758.91 million. During the same period last year, the company earned $0.53 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. equities analysts predict that Timken Company will post 2.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.08 annualized dividend and a yield of 2.21%. Timken’s dividend payout ratio is presently 43.03%.
In other Timken news, insider Richard G. Kyle sold 9,242 shares of the firm’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 transaction of $459,789.50. Following the completion of the transaction, the insider now owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.08% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION NOTICE: “Timken Company (The) (TKR) Shares Sold by Stevens Capital Management LP” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://ledgergazette.com/2017/12/07/stevens-capital-management-lp-trims-holdings-in-timken-company-the-tkr.html.
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.
Receive News & Ratings for Timken Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.