State of Wyoming Buys New Position in Timken Company (The) $TKR

Key Points

• Wyoming purchased a new 10,091-share stake in Timken during the second quarter, valued at approximately $1.47 million. Institutional investors collectively own 89.08% of the company.
• Analysts maintain a positive outlook, with six Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $150.
• Timken beat quarterly expectations with $1.83 in earnings per share on $1.26 billion in revenue, while raising its year-over-year revenue by 7.5%. The company also declared a quarterly dividend of $0.36 per share.

State of Wyoming bought a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,091 shares of the industrial products company's stock, valued at approximately $1,466,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Segall Bryant & Hamill LLC grew its position in Timken by 29.9% in the first quarter. Segall Bryant & Hamill LLC now owns 451,516 shares of the industrial products company's stock worth $45,409,000 after acquiring an additional 103,904 shares in the last quarter. Peregrine Investment Management Inc. bought a new position in Timken in the first quarter valued at $7,040,000. Wealth High Governance Capital Ltda purchased a new stake in Timken during the fourth quarter valued at about $16,429,000. Regents Gate Capital LLP purchased a new stake in Timken during the fourth quarter valued at about $9,126,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Timken by 247.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 51,195 shares of the industrial products company's stock worth $5,149,000 after purchasing an additional 36,455 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TKR. Oppenheimer increased their price objective on Timken from $147.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Timken from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Evercore reiterated an "outperform" rating and set a $158.00 price target on shares of Timken in a research report on Monday, May 11th. The Goldman Sachs Group increased their price target on shares of Timken from $128.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Finally, DA Davidson set a $130.00 price target on shares of Timken in a research note on Friday. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Timken presently has a consensus rating of "Moderate Buy" and an average price target of $150.00.

Timken Stock Up 1.6%

Shares of NYSE:TKR opened at $133.37 on Friday. The stock has a market capitalization of $9.24 billion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.21. The stock's 50-day moving average price is $137.56 and its 200-day moving average price is $118.22. The company has a current ratio of 3.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.61. Timken Company has a 12-month low of $70.57 and a 12-month high of $146.37.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Timken had a return on equity of 12.63% and a net margin of 5.43%.Timken's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 EPS. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. On average, equities analysts anticipate that Timken Company will post 6.23 earnings per share for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be given a $0.36 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.44 annualized dividend and a yield of 1.1%. Timken's payout ratio is presently 39.02%.

Insider Buying and Selling

In other news, Director Richard G. Kyle sold 13,637 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $126.63, for a total transaction of $1,726,853.31. Following the completion of the sale, the director owned 183,724 shares of the company's stock, valued at approximately $23,264,970.12. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ajita G. Rajendra sold 8,450 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $131.34, for a total transaction of $1,109,823.00. Following the completion of the transaction, the director owned 20,225 shares in the company, valued at $2,656,351.50. This represents a 29.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,535 shares of company stock valued at $3,912,529. Insiders own 8.10% of the company's stock.

Timken Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken's products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken's portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.

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