Hsbc Holdings PLC Reduces Stake in Timken Company (The) $TKR

Key Points

• Hsbc Holdings PLC reduced its stake in Timken Company by 26%, maintaining a position worth $971,000 with 13,592 shares post-sale.
• Timken's latest earnings report revealed a lower revenue of $1.17 billion, while EPS of $1.42 exceeded analysts' expectations by $0.08.
• The firm announced a quarterly dividend of $0.35, yielding 1.8% annually, with a dividend payout ratio of 31.82%.

Hsbc Holdings PLC trimmed its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 26.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,592 shares of the industrial products company's stock after selling 4,782 shares during the period. Hsbc Holdings PLC's holdings in Timken were worth $971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings 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 acquiring an additional 180,705 shares during the period. American Century Companies Inc. boosted its stake in shares of Timken by 7.3% in the first quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company's stock worth $243,648,000 after acquiring an additional 231,435 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Timken by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,367,167 shares of the industrial products company's stock worth $170,124,000 after acquiring an additional 133,674 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Timken by 108.8% in the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock worth $132,372,000 after acquiring an additional 959,672 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Timken by 7.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,378,229 shares of the industrial products company's stock worth $99,053,000 after acquiring an additional 93,216 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TKR shares. Evercore ISI set a $84.00 price objective on Timken and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. DA Davidson lifted their price objective on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Citigroup lifted their price objective on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $79.80.

Timken Trading Down 1.8%

Shares of TKR stock traded down $1.36 on Wednesday, hitting $75.13. The stock had a trading volume of 256,099 shares, compared to its average volume of 671,371. 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 firm has a market capitalization of $5.23 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.69 and a beta of 1.25. Timken Company has a 1 year low of $56.20 and a 1 year high of $87.52. The company's 50 day moving average price is $77.00 and its 200-day moving average price is $72.79.

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 (EPS) 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company'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. Analysts anticipate that Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.9%. Timken's dividend payout ratio is 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.