Platinum Investment Management Ltd. Invests $262,000 in Timken Company (The) $TKR

Key Points

• Platinum Investment Management Ltd. has made a new investment of approximately $262,000 in Timken Company by purchasing 3,617 shares during the second quarter.
• Timken announced a quarterly dividend of $0.35 per share, with a current annualized yield of 1.9% and a payout ratio of 31.82%.
• Analysts have varying ratings on Timken, with Citigroup raising its target price from $85.00 to $90.00, supporting a "buy" rating for the stock.

Platinum Investment Management Ltd. bought a new position in Timken Company (The) (NYSE:TKR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,617 shares of the industrial products company's stock, valued at approximately $262,000.

Several other hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Timken by 13.0% in the second quarter. Janney Montgomery Scott LLC now owns 121,329 shares of the industrial products company's stock worth $8,802,000 after buying an additional 13,954 shares in the last quarter. Washington Capital Management Inc. purchased a new position in shares of Timken in the second quarter worth $443,000. Uncommon Cents Investing LLC lifted its holdings in shares of Timken by 8.5% in the second quarter. Uncommon Cents Investing LLC now owns 27,375 shares of the industrial products company's stock worth $1,986,000 after buying an additional 2,133 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Timken by 127.2% in the second quarter. State of Alaska Department of Revenue now owns 79,798 shares of the industrial products company's stock worth $5,788,000 after buying an additional 44,680 shares in the last quarter. Finally, Steph & Co. purchased a new position in shares of Timken in the second quarter worth $37,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Trading Down 0.1%

Shares of TKR opened at $75.12 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 3.13. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $87.52. The stock has a market capitalization of $5.23 billion, a PE ratio of 17.07, a P/E/G ratio of 1.65 and a beta of 1.26. The company's fifty day moving average is $76.91 and its 200 day moving average is $72.59.

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, 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 analysts' expectations of $1.15 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The business'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. Sell-side analysts expect that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. Timken's payout ratio is 31.82%.

Wall Street Analyst Weigh In

TKR has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Timken from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. DA Davidson boosted their target price on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. started coverage on shares of Timken in a research report on Monday, September 15th. They issued a "neutral" rating and a $80.00 price target on the stock. Finally, Evercore ISI set a $84.00 price target on shares of Timken and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $80.73.

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.

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