Hotchkis & Wiley Capital Management LLC Has $143.09 Million Position in Timken Company (The) $TKR

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in Timken Company by 2.4%, now owning nearly 1,991,000 shares valued at approximately $143 million.
• Timken reported a 4.8% increase in its stock price, reaching $78.96 and has a market capitalization of $5.50 billion.
• The company announced a quarterly dividend of $0.35 per share, reflecting a 1.8% dividend yield with a payout ratio of 31.82%.

Hotchkis & Wiley Capital Management LLC increased its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,990,929 shares of the industrial products company's stock after purchasing an additional 46,090 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 2.85% of Timken worth $143,088,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in 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. Teacher Retirement System of Texas lifted its stake in Timken by 77.8% in the first quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after buying an additional 5,212 shares in the last quarter. State of Alaska Department of Revenue increased its holdings 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 buying an additional 190 shares during the last quarter. Vanguard Group Inc. boosted its position 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 worth $477,681,000 after purchasing an additional 180,705 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Timken by 48.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 530,734 shares of the industrial products company's stock worth $36,483,000 after acquiring an additional 174,145 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TKR has been the topic of a number of recent research reports. Oppenheimer cut their target price on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Citigroup increased their price objective on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Evercore ISI set a $84.00 price objective on Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, DA Davidson increased their price target on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $79.80.

Timken Stock Performance

Shares of Timken stock traded up $0.4010 on Monday, hitting $79.3910. The stock had a trading volume of 1,129,581 shares, compared to its average volume of 773,311. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.73 and a beta of 1.30. Timken Company has a 52-week low of $56.20 and a 52-week high of $87.52. The company's 50 day moving average price is $76.19 and its 200 day moving average price is $72.92. 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 quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.15 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The company'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. On average, research analysts anticipate that Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.35 per share. 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 1.8%. Timken's payout ratio is currently 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.