Stifel Financial Corp lifted its position in shares of Timken Co (NYSE:TKR) by 28.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,721 shares of the industrial products company’s stock after purchasing an additional 74,425 shares during the quarter. Stifel Financial Corp owned 0.44% of Timken worth $16,433,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in TKR. Advisor Group Inc. grew its holdings in Timken by 19.7% during the second quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock worth $187,000 after buying an additional 666 shares in the last quarter. US Bancorp DE grew its stake in Timken by 10.1% in the 2nd quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 390 shares during the period. Calamos Advisors LLC bought a new position in Timken in the 2nd quarter valued at $210,000. Janus Henderson Group PLC bought a new position in Timken in the 2nd quarter valued at $215,000. Finally, Bank of Montreal Can grew its stake in Timken by 6.8% in the 2nd 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. Institutional investors and hedge funds own 79.30% of the company’s stock.
In related news, insider Richard G. Kyle sold 9,242 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $49.75, for a total transaction of $459,789.50. Following the sale, the insider now owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.08% of the company’s stock.
A number of research analysts have issued reports on TKR shares. ValuEngine downgraded Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Timken from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group restated a “hold” rating and issued a $50.00 price objective on shares of Timken in a research note on Thursday, October 26th. Finally, BidaskClub cut Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Timken presently has an average rating of “Hold” and an average price target of $52.00.
Shares of Timken Co (TKR) traded down $0.05 during midday trading on Friday, hitting $47.45. The stock had a trading volume of 1,199,539 shares, compared to its average volume of 570,626. Timken Co has a 1 year low of $39.25 and a 1 year high of $53.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38. The stock has a market cap of $3,686.81, a PE ratio of 19.71, a PEG ratio of 1.57 and a beta of 1.49.
Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $758.91 million. Timken had a return on equity of 13.75% and a net margin of 6.88%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. research analysts forecast that Timken Co will post 2.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a yield of 2.28%. Timken’s dividend payout ratio (DPR) is 43.03%.
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Timken Company 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.
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