Ceredex Value Advisors LLC Reduces Stock Position in Timken Company (The) $TKR

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 reduced its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 18.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 181,500 shares of the industrial products company's stock after selling 41,107 shares during the period. Ceredex Value Advisors LLC owned approximately 0.26% of Timken worth $13,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Parvin Asset Management LLC acquired a new stake in Timken during the fourth quarter worth about $66,000. UMB Bank n.a. grew its stake in shares of Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC increased its holdings in shares of Timken by 282.3% during the 1st 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 in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Timken in the 1st quarter valued at $108,000. Finally, Blue Trust Inc. lifted its stake in shares of Timken by 9.2% in the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TKR shares. Evercore ISI set a $84.00 price objective on shares of Timken and gave the company an "outperform" rating in a report on Tuesday, August 19th. DA Davidson lifted their price target on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Citigroup upped their price target on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.80.

Timken Price Performance

NYSE:TKR traded down $0.95 during trading hours on Monday, hitting $77.26. 620,880 shares of the stock were exchanged, compared to its average volume of 605,733. The firm's fifty day moving average price is $76.82 and its 200 day moving average price is $72.81. Timken Company has a 52-week low of $56.20 and a 52-week high of $87.52. The company has a market cap of $5.38 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.69 and a beta of 1.25. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKR - Get Free Report) last released 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 return on equity of 11.78% and a net margin of 6.86%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $1.63 earnings per share. The business'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. As a group, equities research analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were given 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 was Tuesday, August 19th. Timken's dividend payout ratio is 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.