T. Rowe Price Investment Management Inc. Has $25.64 Million Stock Holdings in Timken Company (The) $TKR

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Timken Company by 35.4% in the first quarter, now owning 356,708 shares valued at approximately $25.64 million.
• Timken reported earnings of $1.42 per share for the last quarter, exceeding analysts' expectations of $1.34, despite a 0.8% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $0.35 per share, which will be paid on August 29, contributing to an annualized dividend yield of 1.8%.

T. Rowe Price Investment Management Inc. cut its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 35.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 356,708 shares of the industrial products company's stock after selling 195,688 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.51% of Timken worth $25,637,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC bought a new position in Timken in the fourth quarter valued at about $66,000. UMB Bank n.a. boosted its holdings in Timken by 400.0% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Timken by 282.3% in the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after acquiring an additional 847 shares during the last quarter. Alpine Bank Wealth Management bought a new position in Timken in the first quarter valued at about $108,000. Finally, Blue Trust Inc. boosted its holdings in Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

Timken Trading Up 4.8%

NYSE:TKR opened at $78.9640 on Friday. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. The stock has a market capitalization of $5.50 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. The business's 50-day simple moving average is $76.03 and its 200-day simple moving average is $72.99.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $1.15 billion. During the same quarter in the previous year, the business posted $1.63 EPS. Timken'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. Sell-side analysts expect that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 19th. Timken's payout ratio is 31.82%.

Analyst Ratings Changes

Several research firms recently issued reports on TKR. DA Davidson raised their price target on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Evercore ISI set a $84.00 target price on Timken and gave the company an "outperform" rating in a research note on Tuesday. Oppenheimer cut their target price on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup increased their target price on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $79.80.

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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