Timken Company (The) (NYSE:TKR) Shares Sold by AGF Management Ltd.

Key Points

• AGF Management Ltd. reduced its stake in Timken Company by 3.2%, owning 505,042 shares worth approximately $36.3 million as of its latest SEC filing.
• Timken recently announced a quarterly dividend of $0.35 per share, representing an annualized dividend of $1.40 and a dividend yield of 1.9%.
• Analysts have mixed ratings on Timken, with recent target prices ranging from $65.00 to $94.00, reflecting varying outlooks on the stock's performance.

AGF Management Ltd. lowered its position in Timken Company (The) (NYSE:TKR - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 505,042 shares of the industrial products company's stock after selling 16,534 shares during the period. AGF Management Ltd. owned about 0.72% of Timken worth $36,297,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Timken by 2.8% during the first quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock worth $477,681,000 after purchasing an additional 180,705 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Timken by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock valued at $159,403,000 after acquiring an additional 124,676 shares in the last quarter. Victory Capital Management Inc. grew its stake in Timken by 108.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock valued at $132,372,000 after acquiring an additional 959,672 shares in the last quarter. Earnest Partners LLC grew its stake in Timken by 0.3% during the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock valued at $92,433,000 after acquiring an additional 3,594 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Timken by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company's stock valued at $91,711,000 after acquiring an additional 63,485 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TKR shares. Oppenheimer dropped their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. DA Davidson upped their price objective on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Evercore ISI dropped their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Finally, Citigroup upped their price objective on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $79.90.

Timken Trading Down 1.5%

Shares of TKR stock traded down $1.14 during trading hours on Friday, hitting $75.94. The company had a trading volume of 867,205 shares, compared to its average volume of 753,297. The company's fifty day moving average is $75.57 and its 200 day moving average is $73.12. 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 stock has a market capitalization of $5.29 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, topping 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 firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $1.63 EPS. The business's revenue for the quarter was down .8% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a yield of 1.8%. Timken's dividend payout ratio is 31.82%.

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.