Timken Company (The) (NYSE:TKR) Shares Sold by Vulcan Value Partners LLC

Key Points

• Vulcan Value Partners LLC reduced its stake in Timken Company by 14.1%, holding 178,410 shares valued at approximately $12.82 million after selling 29,315 shares in the first quarter.
• Timken reported a Q2 EPS of $1.42, exceeding expectations, with revenues of $1.17 billion but down 0.8% year-over-year.
• Analysts generally have a consensus rating of "Hold" on Timken stock with a price target averaging $79.90, reflecting mixed projections from various firms.

Vulcan Value Partners LLC decreased its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 178,410 shares of the industrial products company's stock after selling 29,315 shares during the quarter. Vulcan Value Partners LLC owned approximately 0.26% of Timken worth $12,822,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TKR. Victory Capital Management Inc. lifted its stake in shares of Timken by 108.8% in the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock worth $132,372,000 after acquiring an additional 959,672 shares in the last quarter. Norges Bank acquired a new position in shares of Timken in the fourth quarter worth about $42,748,000. Millennium Management LLC lifted its stake in shares of Timken by 1,421.1% in the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock worth $32,737,000 after acquiring an additional 428,545 shares in the last quarter. Cooke & Bieler LP acquired a new position in shares of Timken in the first quarter worth about $18,041,000. Finally, Voloridge Investment Management LLC lifted its stake in shares of Timken by 193.8% in the fourth quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company's stock worth $26,014,000 after acquiring an additional 240,417 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Up 1.8%

NYSE:TKR opened at $76.15 on Friday. The firm has a market capitalization of $5.33 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The stock has a 50 day moving average of $74.37 and a 200-day moving average of $73.23. Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. The company has a current ratio of 3.13, a quick ratio of 1.71 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 11.78% and a net margin of 6.86%. The business's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 earnings per share. Analysts predict that Timken Company will post 5.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TKR shares. Morgan Stanley lowered their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Citigroup boosted their price objective on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Oppenheimer lowered their price objective on Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Loop Capital lowered their price objective on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, Evercore ISI lowered their price objective on Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Timken has a consensus rating of "Hold" and a consensus price target of $79.90.

About Timken

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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