Washington Capital Management Inc. Acquires New Position in Timken Company (The) $TKR

Key Points

• Washington Capital Management Inc. acquired a new stake in Timken Company, purchasing 6,100 shares valued at approximately $443,000 in the second quarter.
• Timken has received mixed analyst ratings, with price targets ranging from $71.00 to $90.00 and a consensus rating of "Hold."
• The company reported earnings of $1.42 per share for the last quarter, exceeding estimates, despite a 0.8% year-over-year revenue decrease.

Washington Capital Management Inc. acquired a new stake in Timken Company (The) (NYSE:TKR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,100 shares of the industrial products company's stock, valued at approximately $443,000.

A number of other institutional investors have also recently made changes to their positions in the business. Pinnacle Associates Ltd. grew its holdings in shares of Timken by 0.6% in the first quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company's stock valued at $1,840,000 after purchasing an additional 155 shares in the last quarter. Blue Trust Inc. grew its holdings in Timken by 9.2% during the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock worth $147,000 after acquiring an additional 173 shares in the last quarter. Ethic Inc. grew its holdings in Timken by 2.5% during the 1st quarter. Ethic Inc. now owns 7,056 shares of the industrial products company's stock worth $485,000 after acquiring an additional 174 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Timken by 2.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company's stock worth $537,000 after acquiring an additional 188 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Timken by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock worth $2,523,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on TKR shares. Evercore ISI set a $84.00 price target on shares of Timken and gave the stock an "outperform" rating in a report on Tuesday, August 19th. DA Davidson boosted their price target on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Citigroup boosted their price target on shares of Timken from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. started coverage on shares of Timken in a report on Monday, September 15th. They set a "neutral" rating and a $80.00 price target for the company. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $80.73.

Timken Trading Up 1.8%

Shares of Timken stock opened at $75.55 on Monday. The company has a fifty day simple moving average of $77.20 and a 200-day simple moving average of $72.55. Timken Company has a 12-month low of $56.20 and a 12-month high of $87.52. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.66 and a beta of 1.25.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.08. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, equities analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

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

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