Entropy Technologies LP Buys Shares of 6,915 Timken Company (The) (NYSE:TKR)

Key Points

• Entropy Technologies LP has acquired 6,915 shares of Timken Company, valued at approximately $497,000 in the first quarter of 2023.
• Timken's recent earnings report showed $1.42 earnings per share, surpassing estimates and indicating a slight revenue decline of 0.8% compared to the previous year.
• The company also announced a quarterly dividend of $0.35, which equates to an annualized dividend yield of 1.7%.

Entropy Technologies LP bought a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,915 shares of the industrial products company's stock, valued at approximately $497,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in Timken by 11.4% during the first quarter. Covestor Ltd now owns 2,302 shares of the industrial products company's stock valued at $165,000 after purchasing an additional 235 shares during the last quarter. Vanguard Group Inc. increased its stake in Timken by 2.8% during the first quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock valued at $477,681,000 after purchasing an additional 180,705 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in Timken by 56.9% during the first quarter. New Age Alpha Advisors LLC now owns 9,230 shares of the industrial products company's stock valued at $663,000 after purchasing an additional 3,349 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Timken by 5.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,532 shares of the industrial products company's stock valued at $757,000 after purchasing an additional 521 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Timken by 41.1% during the first quarter. US Bancorp DE now owns 4,490 shares of the industrial products company's stock worth $323,000 after acquiring an additional 1,307 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TKR shares. DA Davidson upped 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. Citigroup upped their price target on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Oppenheimer lowered their price target 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. Loop Capital lowered their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI lowered their price target on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $79.90.

Timken Stock Performance

TKR stock opened at $80.35 on Thursday. The company has a market capitalization of $5.60 billion, a P/E ratio of 18.26, a PEG ratio of 1.69 and a beta of 1.30. The company has a 50-day simple moving average of $75.36 and a 200 day simple moving average of $73.13. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $87.52. 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 quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.08. The business had revenue of $1.17 billion during 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%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. Sell-side analysts predict that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 1.7%. 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.

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