Kovitz Investment Group Partners LLC Boosts Position in Timken Company (The) $TKR

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Timken Company by 114.2%, bringing their total holdings to 30,819 shares worth approximately $2.2 million.
• Timken reported a quarterly earnings per share (EPS) of $1.42, exceeding analysts' expectations of $1.34, with a total revenue of $1.17 billion for the quarter.
• A quarterly dividend of $0.35 per share was announced, reflecting an annualized dividend yield of 1.8%, scheduled to be paid on August 29th.

Kovitz Investment Group Partners LLC lifted its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 114.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,819 shares of the industrial products company's stock after acquiring an additional 16,433 shares during the period. Kovitz Investment Group Partners LLC's holdings in Timken were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Cookson Peirce & Co. Inc. raised its holdings in shares of Timken by 7.2% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 6,167 shares of the industrial products company's stock worth $443,000 after acquiring an additional 413 shares during the period. Boston Partners purchased a new stake in Timken in the 1st quarter valued at about $692,000. Russell Investments Group Ltd. raised its holdings in Timken by 38.4% in the 1st quarter. Russell Investments Group Ltd. now owns 210,910 shares of the industrial products company's stock valued at $15,158,000 after buying an additional 58,541 shares during the period. Rathbones Group PLC purchased a new stake in Timken in the 1st quarter valued at about $517,000. Finally, Nuveen LLC purchased a new stake in Timken in the 1st quarter valued at about $7,890,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Stock Performance

Shares of Timken stock opened at $76.75 on Tuesday. Timken Company has a one year low of $56.20 and a one year high of $87.52. The company has a market cap of $5.35 billion, a PE ratio of 17.44, a P/E/G ratio of 1.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 3.13. The business has a 50-day simple moving average of $75.66 and a 200-day simple moving average of $73.02.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 EPS 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared 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 yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 19th. Timken's dividend payout ratio is 31.82%.

Analyst Ratings Changes

Several brokerages recently issued reports on TKR. Oppenheimer reduced their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Citigroup boosted their price objective on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Evercore ISI reduced their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, DA Davidson boosted their price objective on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Timken currently has an average rating of "Hold" and an average price target of $79.90.

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.

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