Wedge Capital Management L L P NC Buys 14,140 Shares of Timken Company (The) $TKR

Key Points

• Wedge Capital Management L L P NC increased its stake in Timken Company by 8.1%, acquiring an additional 14,140 shares during the 2nd quarter, bringing its total ownership to 188,771 shares valued at approximately $13.7 million.
• Timken Company reported $1.42 earnings per share for the last quarter, exceeding the consensus estimate of $1.34, but showed a 0.8% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.35, with a projected annual yield of 1.8% and a payout ratio of 31.82%.

Wedge Capital Management L L P NC boosted its position in shares of Timken Company (The) (NYSE:TKR - Free Report) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,771 shares of the industrial products company's stock after acquiring an additional 14,140 shares during the quarter. Wedge Capital Management L L P NC owned 0.27% of Timken worth $13,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TKR. Victory Capital Management Inc. increased its holdings 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 valued at $132,372,000 after purchasing an additional 959,672 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of Timken by 631.7% in the first 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 first quarter valued at $18,041,000. American Century Companies Inc. increased its holdings in shares of Timken by 7.3% in the first 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 increased its holdings in shares of Timken by 48.5% in the first 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. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Performance

Shares of NYSE:TKR traded up $0.26 during midday trading on Tuesday, reaching $77.10. The company had a trading volume of 599,808 shares, compared to its average volume of 678,858. The company's 50 day moving average price is $77.39 and its 200 day moving average price is $72.51. 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 $5.37 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.70 and a beta of 1.25. Timken Company has a 52-week low of $56.20 and a 52-week high of $87.52.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data 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. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The company's revenue was down .8% compared to the same quarter last year. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, sell-side analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

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

Wall Street Analyst Weigh In

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

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.