Timken Company (The) $TKR Shares Purchased by Comerica Bank

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 increased its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,419 shares of the industrial products company's stock after purchasing an additional 14,848 shares during the period. Comerica Bank owned 0.10% of Timken worth $5,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TKR. Marshall Wace LLP acquired a new position in shares of Timken during the 4th quarter worth about $382,000. Tower Research Capital LLC TRC raised its position in shares of Timken by 83.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,868 shares of the industrial products company's stock worth $276,000 after purchasing an additional 1,761 shares during the last quarter. Stifel Financial Corp raised its position in shares of Timken by 0.9% during the 4th quarter. Stifel Financial Corp now owns 61,434 shares of the industrial products company's stock worth $4,385,000 after purchasing an additional 566 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Timken by 12.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,951 shares of the industrial products company's stock valued at $6,635,000 after acquiring an additional 10,280 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Timken by 15.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 525,612 shares of the industrial products company's stock valued at $37,513,000 after acquiring an additional 71,505 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Trading Down 1.9%

Shares of NYSE TKR traded down $1.46 during midday trading on Wednesday, reaching $75.03. 99,771 shares of the stock were exchanged, compared to its average volume of 670,531. The company has a 50 day simple moving average of $77.00 and a 200 day simple moving average of $72.79. The stock has a market capitalization of $5.23 billion, a P/E ratio of 17.06, a PEG ratio of 1.69 and a beta of 1.25. 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 Company has a twelve month low of $56.20 and a twelve month high of $87.52.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.08. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business's revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, equities analysts expect that Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 19th. Timken's dividend payout ratio (DPR) is 31.82%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TKR shares. Citigroup increased their price objective on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Evercore ISI set a $84.00 price objective on shares of Timken and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, DA Davidson increased their price objective on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $79.80.

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.