18,400 Shares in Timken Company (The) $TKR Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp has acquired 18,400 shares of Timken Company (NYSE: TKR), valued at approximately $1.32 million, during the first quarter.
• Timken has seen substantial increases in institutional stakes, with Victory Capital Management Inc. and Channing Capital Management LLC raising their shares significantly during Q1 2023.
• The company's latest quarterly earnings reported an EPS of $1.42, surpassing analysts' expectations, though revenue showed a 0.8% decrease year-over-year.

OMERS ADMINISTRATION Corp acquired a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,400 shares of the industrial products company's stock, valued at approximately $1,322,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Timken by 77.8% during the first quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after buying an additional 5,212 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Timken by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after buying an additional 190 shares during the last quarter. Vanguard Group Inc. increased its holdings in Timken by 2.8% during the first quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock valued at $477,681,000 after buying an additional 180,705 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Timken by 11.7% during the first quarter. Mackenzie Financial Corp now owns 7,975 shares of the industrial products company's stock valued at $573,000 after buying an additional 835 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TKR has been the subject of a number of research reports. DA Davidson upped their target price on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Citigroup upped their target price on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, 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. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Timken currently has an average rating of "Hold" and an average target price of $79.80.

Timken Trading Up 3.0%

Shares of TKR traded up $2.22 during midday trading on Thursday, hitting $77.34. The stock had a trading volume of 747,290 shares, compared to its average volume of 673,726. Timken Company has a 1 year low of $56.20 and a 1 year high of $87.52. The firm has a market cap of $5.39 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. The stock's 50 day moving average is $77.04 and its 200 day moving average is $72.81.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.08. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were paid a $0.35 dividend. 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 dividend payout ratio is currently 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.