Allspring Global Investments Holdings LLC Has $41.28 Million Stock Holdings in Timken Company (The) $TKR

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Timken Company by 3.1%, owning approximately $41.28 million in stock as of the latest SEC filing.
• Timken's recent quarterly earnings report showed $1.42 earnings per share, surpassing analysts' expectations, with a revenue of $1.17 billion, although down by 0.8% year-over-year.
• The company announced a quarterly dividend of $0.35 per share, yielding 1.9%, and has a payout ratio of 31.82%.

Allspring Global Investments Holdings LLC grew its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 547,188 shares of the industrial products company's stock after purchasing an additional 16,454 shares during the period. Allspring Global Investments Holdings LLC owned about 0.78% of Timken worth $41,280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake 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 buying an additional 847 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Timken by 77.8% in the 1st quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after acquiring an additional 5,212 shares in the last quarter. Highland Capital Management LLC boosted its stake in Timken by 39.7% in the 2nd quarter. Highland Capital Management LLC now owns 59,260 shares of the industrial products company's stock worth $4,299,000 after purchasing an additional 16,840 shares during the period. State of Alaska Department of Revenue boosted its stake in Timken by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock worth $2,523,000 after purchasing an additional 190 shares during the period. Finally, United Services Automobile Association purchased a new position in Timken during the 1st quarter worth approximately $306,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Stock Up 0.5%

TKR opened at $74.68 on Thursday. The company has a market capitalization of $5.20 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26. 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 business has a 50-day moving average of $76.42 and a 200-day moving average of $72.59.

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

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.9%. Timken's dividend payout ratio is currently 31.82%.

Wall Street Analysts Forecast Growth

TKR has been the subject of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on Timken in a research report on Monday, September 15th. They issued a "neutral" rating and a $80.00 target price for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Timken in a research report on Wednesday, October 8th. Citigroup lifted their target price on Timken from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. DA Davidson increased their price target on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Evercore ISI set a $84.00 price target on shares of Timken and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Timken presently has a consensus rating of "Hold" and an average price target of $80.73.

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.

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