Wedge Capital Management L L P NC Acquires 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 raised its position in Timken Company (The) (NYSE:TKR - Free Report) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 188,771 shares of the industrial products company's stock after buying an additional 14,140 shares during the period. Wedge Capital Management L L P NC owned about 0.27% of Timken worth $13,695,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in shares of Timken by 108.8% during 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 buying an additional 959,672 shares in the last quarter. Channing Capital Management LLC boosted its stake in Timken by 631.7% during the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company's stock worth $77,883,000 after purchasing an additional 935,554 shares during the period. Cooke & Bieler LP purchased a new position in Timken during the 1st quarter valued at about $18,041,000. American Century Companies Inc. lifted its position in Timken by 7.3% during 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 buying an additional 231,435 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Timken by 48.5% during 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. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TKR shares. Evercore ISI set a $84.00 price target on shares of Timken and gave the company an "outperform" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. started coverage on Timken in a research report on Monday, September 15th. They set a "neutral" rating and a $80.00 target price on the stock. Citigroup upped their price target on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, DA Davidson raised their price target on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $79.82.

Timken Price Performance

Shares of NYSE TKR traded down $1.63 during trading hours on Friday, reaching $77.47. 768,536 shares of the stock traded hands, compared to its average volume of 704,721. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65. Timken Company has a 52-week low of $56.20 and a 52-week high of $87.52. The company has a market capitalization of $5.39 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25. The company's 50-day simple moving average is $77.39 and its two-hundred day simple moving average is $72.51.

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 (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.08. Timken had a return on equity of 11.78% and a net margin of 6.86%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. Timken'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. Equities research analysts forecast that Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

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

Timken 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.