7,342 Shares in Timken Company (The) $TKR Bought by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH acquired 7,342 shares of Timken Company, valued at approximately $528,000, during the first quarter of the year.
• The company recently reported earnings of $1.42 per share, surpassing analysts' expectations of $1.34, despite a revenue decline of 0.8% compared to the previous year.
• Timken has declared a quarterly dividend of $0.35 per share, representing an annualized $1.40 and a dividend yield of 1.8%, with the payout ratio at 31.82%.

Erste Asset Management GmbH acquired a new position in Timken Company (The) (NYSE:TKR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,342 shares of the industrial products company's stock, valued at approximately $528,000.

Other institutional investors also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in Timken during the fourth quarter valued at $66,000. UMB Bank n.a. boosted its position in Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 acquiring an additional 847 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in Timken during the first quarter valued at $108,000. Finally, Blue Trust Inc. boosted its position in Timken by 9.2% during the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

Timken Trading Up 4.8%

TKR opened at $78.9640 on Friday. 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 fifty-two week low of $56.20 and a fifty-two week high of $87.52. The firm has a market capitalization of $5.50 billion, a PE ratio of 17.95, a P/E/G ratio of 1.65 and a beta of 1.30. The company's 50-day moving average is $76.03 and its 200 day moving average is $73.05.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.08. Timken had a net margin of 6.86% and a return on equity of 11.78%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.63 EPS. 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. As a group, research analysts predict that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 19th. Timken's dividend payout ratio is currently 31.82%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. DA Davidson upped their price target on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Citigroup upped their price objective on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Oppenheimer dropped their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI set a $84.00 price objective on shares of Timken and gave the company an "outperform" rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $79.80.

About Timken

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.

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Timken Company (The) (NYSE:TKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.