Magnetar Financial LLC Makes New Investment in Timken Company (The) $TKR

Key Points

• Magnetar Financial LLC has acquired a new position in the Timken Company, purchasing 5,609 shares valued at approximately $403,000 in the first quarter.
• Timken reported earnings per share (EPS) of $1.42 for the last quarter, exceeding estimates, and anticipates a FY 2025 EPS guidance of 5.100-5.400.
• The company also declared a quarterly dividend of $0.35 per share, representing an annualized dividend yield of 1.8%.

Magnetar Financial LLC bought a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,609 shares of the industrial products company's stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TKR. UMB Bank n.a. boosted its stake in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC boosted its stake in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the period. Alpine Bank Wealth Management acquired a new position in Timken during the 1st quarter valued at about $108,000. Blue Trust Inc. boosted its stake in Timken by 9.2% during the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after purchasing an additional 173 shares during the period. Finally, Covestor Ltd boosted its stake in Timken by 11.4% during the 1st 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 period. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TKR. DA Davidson boosted their target price on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Evercore ISI set a $84.00 price target on shares of Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, 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 note on Tuesday, June 24th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Timken has an average rating of "Hold" and an average target price of $79.80.

Timken Price Performance

Shares of NYSE TKR traded up $0.37 during midday trading on Friday, reaching $77.79. The company's stock had a trading volume of 626,956 shares, compared to its average volume of 590,484. Timken Company has a one year low of $56.20 and a one year high of $87.52. The company has a 50 day moving average price of $77.19 and a 200 day moving average price of $72.73. 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 company has a market cap of $5.42 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25.

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 (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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm'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, equities research analysts expect that Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, August 19th. Timken's dividend payout ratio is presently 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.