Comerica Bank Purchases 14,848 Shares of Timken Company (The) $TKR

Key Points

• Comerica Bank increased its stake in Timken Company by 25.8% during the first quarter, owning 72,419 shares worth approximately $5.2 million.
• Timken reported a net income of $1.42 EPS for the quarter, surpassing analysts' estimates of $1.34, while also projecting FY 2025 EPS guidance of $5.100 to $5.400.
• The company's current dividend is set at $0.35 per share, resulting in an annualized yield of 1.8%, with a payout ratio of 31.82%.

Comerica Bank boosted its stake in Timken Company (The) (NYSE:TKR - Free Report) by 25.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,419 shares of the industrial products company's stock after buying an additional 14,848 shares during the period. Comerica Bank owned 0.10% of Timken worth $5,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TKR. Parvin Asset Management LLC acquired a new position in shares of Timken in the fourth quarter worth about $66,000. UMB Bank n.a. lifted its stake 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 lifted its stake 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 acquired a new stake in Timken in the first quarter valued at approximately $108,000. Finally, Blue Trust Inc. raised its position in shares of 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 purchasing an additional 173 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. DA Davidson boosted their price target on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Citigroup boosted their target price on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Timken has a consensus rating of "Hold" and a consensus target price of $79.80.

Timken Stock Down 1.2%

NYSE TKR traded down $0.95 during trading hours on Friday, reaching $77.26. 620,880 shares of the company's stock were exchanged, compared to its average volume of 605,733. The company's 50-day moving average is $76.82 and its two-hundred day moving average is $72.81. Timken Company has a one year low of $56.20 and a one year 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. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The business's revenue was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

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

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.