Timken Company (The) $TKR Shares Sold by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC reduced its stake in Timken Company by 18.5% in the 1st quarter, selling 41,107 shares and now holding approximately 0.26% of the company.
• Timken recently reported an EPS of $1.42 for the quarter, exceeding analyst expectations of $1.34, but revenue was down 0.8% year-over-year.
• The company announced a quarterly dividend of $0.35 per share, translating to an annual yield of 1.8%, with a payout ratio of 31.82%.

Ceredex Value Advisors LLC cut its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 18.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,500 shares of the industrial products company's stock after selling 41,107 shares during the quarter. Ceredex Value Advisors LLC owned about 0.26% of Timken worth $13,044,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its stake in Timken by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company's stock valued at $1,840,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. increased its position in Timken by 9.2% during the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock worth $147,000 after purchasing an additional 173 shares in the last quarter. Ethic Inc. grew its holdings in Timken by 2.5% during the 1st quarter. Ethic Inc. now owns 7,056 shares of the industrial products company's stock worth $485,000 after acquiring an additional 174 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Timken by 2.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company's stock valued at $537,000 after purchasing an additional 188 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake 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 worth $2,523,000 after acquiring an additional 190 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on TKR. Evercore ISI set a $84.00 price objective on shares of Timken and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Citigroup raised their price objective on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Oppenheimer dropped their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, DA Davidson boosted their price objective on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Timken currently has an average rating of "Hold" and a consensus target price of $79.80.

Timken Trading Down 1.2%

TKR traded down $0.95 during trading on Friday, reaching $77.26. The company had a trading volume of 620,880 shares, compared to its average volume of 624,846. Timken Company has a 52 week low of $56.20 and a 52 week high of $87.52. The stock has a market cap of $5.38 billion, a P/E ratio of 17.56, a PEG ratio of 1.72 and a beta of 1.30. The business has a 50 day simple moving average of $76.82 and a 200-day simple moving average of $72.95. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65.

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 (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.08. Timken had a return on equity of 11.78% and a net margin of 6.86%.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 previous year, the firm earned $1.63 earnings per share. The firm's quarterly revenue was down .8% compared to the same quarter last year. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, equities analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 19th. Timken's payout ratio is presently 31.82%.

Timken Company 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.