The Manufacturers Life Insurance Company Acquires 67,541 Shares of Timken Company (The) $TKR

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Timken Company by 12.8%, owning approximately $42.63 million worth of stock after acquiring additional shares.
• Several institutional investors, including Vanguard Group and Victory Capital Management, have also raised their positions in Timken, indicating strong interest from hedge funds with 89.08% of the stock now held by them.
• Timken recently announced a quarterly dividend of $0.35 per share, representing an annualized yield of 1.8%, while it reported earnings exceeding analysts' expectations by achieving $1.42 EPS for the last quarter.

The Manufacturers Life Insurance Company grew its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 593,153 shares of the industrial products company's stock after purchasing an additional 67,541 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.85% of Timken worth $42,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Pinnacle Associates Ltd. increased its position in shares of Timken by 0.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company's stock valued at $1,840,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. increased its position in shares of 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 last quarter. Ethic Inc. increased its position in shares of Timken by 2.5% during the 1st quarter. Ethic Inc. now owns 7,056 shares of the industrial products company's stock valued at $485,000 after purchasing an additional 174 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Timken by 2.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company's stock valued at $537,000 after purchasing an additional 188 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Timken by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Price Performance

NYSE TKR traded up $0.37 during trading hours on Friday, hitting $77.79. The company had a trading volume of 624,429 shares, compared to its average volume of 671,998. Timken Company has a 52 week low of $56.20 and a 52 week high of $87.52. The firm has a 50 day simple moving average of $77.10 and a 200 day simple moving average of $72.77. 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 firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.65 and a beta of 1.25.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company earned $1.63 EPS. 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. Equities research analysts expect that Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were paid a $0.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.40 annualized dividend and a yield of 1.8%. Timken's dividend payout ratio (DPR) is currently 31.82%.

Wall Street Analyst Weigh In

TKR has been the subject of several research analyst reports. DA Davidson raised their target price on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Evercore ISI set a $84.00 price target on Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, Citigroup increased their price target on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Timken has a consensus rating of "Hold" and an average price target 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.