Timken Company (The) $TKR is Channing Capital Management LLC's 7th Largest Position

Key Points

• Channing Capital Management LLC significantly increased its holdings in Timken Company by 631.7% during the 1st quarter, now owning over 1 million shares valued at approximately $77.88 million.
• Timken reported earnings per share (EPS) of $1.42 for the last quarter, exceeding analysts' estimates of $1.34, despite a 0.8% decrease in revenue year-over-year.
• The company's dividend of $0.35 per share is scheduled for distribution on August 29th, yielding an annualized dividend of 1.8%.

Channing Capital Management LLC grew its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 631.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,083,666 shares of the industrial products company's stock after acquiring an additional 935,554 shares during the period. Timken comprises approximately 2.4% of Channing Capital Management LLC's portfolio, making the stock its 7th largest position. Channing Capital Management LLC owned 1.55% of Timken worth $77,883,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Parvin Asset Management LLC acquired a new position in shares of Timken in the fourth quarter worth $66,000. UMB Bank n.a. grew its stake in shares of Timken by 400.0% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after acquiring an additional 800 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Timken by 282.3% in the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after acquiring an additional 847 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Timken in the first quarter worth $108,000. Finally, Blue Trust Inc. grew its stake in shares of Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock worth $147,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Performance

Shares of NYSE:TKR traded up $0.4010 on Monday, reaching $79.3910. The company's stock had a trading volume of 1,120,932 shares, compared to its average volume of 675,536. The stock's 50-day moving average is $76.03 and its two-hundred day moving average is $72.93. Timken Company has a 52-week low of $56.20 and a 52-week high of $87.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. The stock has a market capitalization of $5.53 billion, a P/E ratio of 18.04, a PEG ratio of 1.73 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The business'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, sell-side analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 of this dividend is Tuesday, August 19th. Timken's dividend payout ratio is presently 31.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TKR. Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Oppenheimer lowered their target price 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 boosted their target price on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Citigroup boosted their target price on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Timken has a consensus rating of "Hold" and an average price target 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.