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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7 Gold Stocks to Buy Before the Fed Changes Its Mind
Just when investors thought that the price of gold couldn’t go any higher, the Federal Reserve added fuel to the fire. On July 29, the Fed said there was not sufficient evidence of an economic recovery to warrant changing their current policies.
Not only does that mean that interest rates will stay at or nor zero, but that the Fed may initiate other actions as well. In his statement after the Fed meeting, chairman Jerome Powell said the Fed was “not even thinking about thinking about raising rates.”
And while the novel coronavirus was certainly a factor, it’s not the only factor. The Fed is looking intently at the collateral damage from the lockdown measures in March and April. Over 14 million Americans who had jobs in February are unemployed. And many of those jobs will not be coming back.
This is creating the perfect scenario for gold and gold stocks. The price of gold has surged over 25% in 2020. At the time of this writing, it sits at $1,953 per ounce. Of course as soon as gold starts to near $2,000 the cries that the rally is over begin.
Are they right again? Maybe, but I’m a little skeptical. Gold always climbs during times of uncertainty. That’s true today more than ever. We’re months away from a presidential election. We’re learning how to live with a novel virus for which there is no vaccine. We have social unrest that has turned into riots in many major cities.
With that in mind, here are seven of the best gold stocks that you can invest in right now.
View the "7 Gold Stocks to Buy Before the Fed Changes Its Mind".