Praxis Investment Management Inc. Acquires New Stake in Timken Company (The) $TKR

Key Points

• Praxis Investment Management Inc. acquired a 3,660-share stake in Timken Company, valued at approximately $266,000, during the 2nd quarter.
• Several institutional investors have modified their holdings in Timken recently, with hedge funds and institutional investors owning 89.08% of the company's stock.
• Timken reported a quarterly EPS of $1.42, beating analysts' estimates, and announced a quarterly dividend of $0.35 with an annualized yield of 1.9%.

Praxis Investment Management Inc. acquired a new stake in Timken Company (The) (NYSE:TKR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,660 shares of the industrial products company's stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TKR. Livelsberger Financial Advisory purchased a new stake in shares of Timken in the 2nd quarter valued at $28,000. Steph & Co. purchased a new stake in shares of Timken in the 2nd quarter valued at $37,000. CWM LLC raised its holdings in shares of Timken by 31.4% in the 2nd quarter. CWM LLC now owns 527 shares of the industrial products company's stock valued at $38,000 after buying an additional 126 shares during the period. Hilltop National Bank purchased a new stake in shares of Timken in the 2nd quarter valued at $74,000. Finally, GAMMA Investing LLC increased its holdings in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after purchasing an additional 847 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

TKR has been the topic of several recent research reports. Evercore ISI set a $84.00 price target on Timken and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Weiss Ratings restated a "hold (c+)" rating on shares of Timken in a report on Wednesday, October 8th. Citigroup upped their price target on Timken from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. DA Davidson upped their price target on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. initiated coverage on Timken in a report on Monday, September 15th. They set a "neutral" rating and a $80.00 price target on the stock. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $80.73.

Timken Trading Down 1.2%

TKR opened at $73.14 on Friday. 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 $5.09 billion, a P/E ratio of 16.62, a PEG ratio of 1.61 and a beta of 1.26. 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's 50-day simple moving average is $76.40 and its 200-day simple moving average is $72.65.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating 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 the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The business's revenue for the quarter was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, equities research analysts expect that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

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.

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