Timken Company (The) $TKR Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in Timken Company by 2.8%, now holding 6,646,465 shares valued at approximately $477.68 million.
• Timken's shares dropped by 1.5%, trading at $75.94, with analysts predicting an EPS of 5.62 for the current year.
• The company recently announced a quarterly dividend of $0.35 per share, representing an annualized yield of 1.8% with a payout ratio of 31.82%.

Vanguard Group Inc. grew its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,646,465 shares of the industrial products company's stock after purchasing an additional 180,705 shares during the quarter. Vanguard Group Inc. owned approximately 9.50% of Timken worth $477,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Age Alpha Advisors LLC boosted its position in Timken by 56.9% during the 1st quarter. New Age Alpha Advisors LLC now owns 9,230 shares of the industrial products company's stock valued at $663,000 after acquiring an additional 3,349 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Timken by 5.2% during the first quarter. PNC Financial Services Group Inc. now owns 10,532 shares of the industrial products company's stock valued at $757,000 after purchasing an additional 521 shares in the last quarter. US Bancorp DE grew its stake in Timken by 41.1% in the first quarter. US Bancorp DE now owns 4,490 shares of the industrial products company's stock valued at $323,000 after purchasing an additional 1,307 shares during the last quarter. Wealthquest Corp bought a new position in Timken in the first quarter worth about $814,000. Finally, Natixis Advisors LLC raised its holdings in Timken by 24.7% in the first quarter. Natixis Advisors LLC now owns 41,994 shares of the industrial products company's stock worth $3,018,000 after purchasing an additional 8,315 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Performance

Shares of Timken stock traded up $0.89 during trading on Tuesday, hitting $77.23. 36,893 shares of the company's stock were exchanged, compared to its average volume of 671,777. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.67 and a beta of 1.30. The business has a 50-day simple moving average of $75.66 and a 200-day simple moving average of $73.02. Timken Company has a 52-week low of $56.20 and a 52-week high of $87.52. 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 (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 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.63 EPS. The company's revenue was down .8% on a year-over-year basis. On average, research analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TKR shares. Oppenheimer lowered their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Citigroup upped their price target on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Evercore ISI set a $84.00 price objective on Timken and gave the company an "outperform" rating in a report on Tuesday. Finally, DA Davidson boosted their target price on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.80.

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.