Charles Schwab Investment Management Inc. Lowers Position in Timken Company (The) $TKR

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Timken Company by 0.7%, selling 4,246 shares, and now holds approximately 648,901 shares valued at $46.6 million.
• Timken reported a Q2 earnings per share of $1.42, surpassing analyst expectations of $1.34, despite a year-over-year revenue decrease of 0.8%.
• The company announced a quarterly dividend of $0.35 per share, reflecting an annual yield of 1.8%, with a payout ratio of 31.82%.

Charles Schwab Investment Management Inc. lessened its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 648,901 shares of the industrial products company's stock after selling 4,246 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.93% of Timken worth $46,637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TKR. Advisory Services Network LLC boosted its holdings in shares of Timken by 12.1% during the 4th quarter. Advisory Services Network LLC now owns 3,340 shares of the industrial products company's stock valued at $238,000 after acquiring an additional 360 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Timken in the fourth quarter worth approximately $14,460,000. Gamco Investors INC. ET AL boosted its holdings in shares of Timken by 7.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 11,358 shares of the industrial products company's stock worth $811,000 after buying an additional 801 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Timken in the fourth quarter worth approximately $382,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Timken by 8.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 47,856 shares of the industrial products company's stock worth $3,412,000 after buying an additional 3,564 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Wall Street Analyst Weigh In

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

Timken Trading Down 0.7%

Shares of TKR traded down $0.4990 during trading hours on Thursday, reaching $75.3610. 20,274 shares of the company traded hands, compared to its average volume of 668,830. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.69 and a beta of 1.30. Timken Company has a 12-month low of $56.20 and a 12-month high of $87.52. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The stock's fifty day moving average price is $75.80 and its 200 day moving average price is $73.07.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The business's revenue was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Sell-side analysts forecast that Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. 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.