Timken Company (The) $TKR Shares Bought by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC increased its stake in Timken Company by 39.7%, owning 59,260 shares valued at approximately $4.3 million as of the second quarter.
• Timken's stock opened at $76.56 with a market capitalization of $5.33 billion, and it's projected to post an EPS of 5.62 for the current fiscal year.
• The company recently announced a quarterly dividend of $0.35, yielding 1.8% annually, with a payout ratio of 31.82%.

Highland Capital Management LLC raised its stake in Timken Company (The) (NYSE:TKR - Free Report) by 39.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,260 shares of the industrial products company's stock after purchasing an additional 16,840 shares during the quarter. Highland Capital Management LLC owned about 0.08% of Timken worth $4,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TKR. Victory Capital Management Inc. boosted its holdings in shares of Timken by 108.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock valued at $132,372,000 after purchasing an additional 959,672 shares during the last quarter. Channing Capital Management LLC boosted its holdings in shares of Timken by 631.7% in the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company's stock valued at $77,883,000 after purchasing an additional 935,554 shares during the last quarter. Cooke & Bieler LP acquired a new position in shares of Timken in the 1st quarter valued at $18,041,000. American Century Companies Inc. boosted its holdings in shares of Timken by 7.3% in the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company's stock valued at $243,648,000 after purchasing an additional 231,435 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Timken by 48.5% in the 1st quarter. Millennium Management LLC now owns 681,379 shares of the industrial products company's stock valued at $48,971,000 after purchasing an additional 222,679 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analyst Weigh In

TKR has been the topic of several recent research reports. Citigroup lifted their target price on shares of Timken from $85.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. DA Davidson lifted their target price on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Weiss Ratings restated a "hold (c+)" rating on shares of Timken in a report on Saturday, September 27th. Evercore ISI set a $84.00 target price on shares of Timken and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Timken in a report on Monday, September 15th. They set a "neutral" rating and a $80.00 target price on the stock. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Timken presently has a consensus rating of "Hold" and an average target price of $80.73.

Timken Stock Performance

Timken stock opened at $76.56 on Friday. The firm's fifty day moving average price is $76.71 and its 200 day moving average price is $72.59. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. Timken Company has a 12-month low of $56.20 and a 12-month high of $87.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.08. The company 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 company's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, research analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.