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The Timken Company (NYSE:TKR) to Issue Dividend Increase - $0.29 Per Share

Saturday, November 21, 2020 | MarketBeat

The Timken Company (NYSE:TKR) declared a quarterly dividend on Friday, November 13th, Fidelity reports. Stockholders of record on Tuesday, November 24th will be given a dividend of 0.29 per share by the industrial products company on Thursday, December 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, November 23rd. This is an increase from The Timken's previous quarterly dividend of $0.25.

The Timken has increased its dividend by 7.7% over the last three years and has increased its dividend every year for the last 1 years. The Timken has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Timken to earn $4.35 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 26.7%.

Shares of The Timken stock opened at $71.94 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.02 and a quick ratio of 1.84. The firm has a market cap of $5.42 billion, a P/E ratio of 17.13, a P/E/G ratio of 6.14 and a beta of 1.80. The firm has a 50 day simple moving average of $62.19 and a 200 day simple moving average of $51.45. The Timken has a fifty-two week low of $22.25 and a fifty-two week high of $73.92.

The Timken (NYSE:TKR) last released its earnings results on Thursday, October 29th. The industrial products company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.23. The Timken had a net margin of 9.06% and a return on equity of 16.41%. The firm had revenue of $894.60 million during the quarter, compared to analyst estimates of $817.21 million. During the same quarter in the previous year, the business earned $1.14 EPS. The business's quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that The Timken will post 3.71 EPS for the current year.

In other The Timken news, EVP Christopher A. Coughlin sold 48,280 shares of the firm's stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $73.10, for a total value of $3,529,268.00. Following the completion of the transaction, the executive vice president now directly owns 123,407 shares in the company, valued at $9,021,051.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Philip D. Fracassa sold 15,514 shares of The Timken stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $72.99, for a total value of $1,132,366.86. Following the transaction, the chief financial officer now owns 80,681 shares of the company's stock, valued at $5,888,906.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,554 shares of company stock valued at $5,141,436. Corporate insiders own 11.62% of the company's stock.

A number of analysts recently commented on TKR shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of The Timken in a research report on Monday, November 2nd. They issued a "buy" rating and a $75.00 price objective for the company. Morgan Stanley raised their price target on The Timken from $60.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, October 30th. ValuEngine raised The Timken from a "sell" rating to a "hold" rating in a research report on Tuesday, October 6th. Zacks Investment Research lowered The Timken from a "strong-buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a research report on Monday, October 19th. Finally, Smith Barney Citigroup began coverage on The Timken in a research report on Monday, November 2nd. They set a "buy" rating and a $75.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The Timken currently has a consensus rating of "Buy" and an average target price of $70.57.

The Timken Company Profile

The Timken Company designs, manufactures, and manages engineered bearings and power transmission products and services worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Dividend History for The Timken (NYSE:TKR)

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