Russell Investments Group Ltd. boosted its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,153 shares of the industrial products company's stock after purchasing an additional 10,712 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Timken worth $8,588,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Timken during the 4th quarter valued at approximately $35,000. Anchor Investment Management LLC purchased a new position in Timken during the 4th quarter valued at approximately $58,000. Amica Retiree Medical Trust purchased a new position in Timken during the 3rd quarter valued at approximately $75,000. Ramirez Asset Management Inc. purchased a new position in Timken during the 3rd quarter valued at approximately $81,000. Finally, Quent Capital LLC grew its holdings in Timken by 50.4% during the 4th quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company's stock valued at $82,000 after buying an additional 341 shares in the last quarter. Institutional investors own 89.08% of the company's stock.
Timken Trading Up 0.4 %
Timken stock traded up $0.39 during trading hours on Tuesday, hitting $90.05. The company had a trading volume of 544,284 shares, compared to its average volume of 507,390. The company has a 50-day moving average price of $86.28 and a two-hundred day moving average price of $80.20. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The firm has a market cap of $6.34 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87.
Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company's revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. On average, sell-side analysts anticipate that The Timken Company will post 6.18 earnings per share for the current year.
Timken Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a $0.34 dividend. This is a boost from Timken's previous quarterly dividend of $0.33. The ex-dividend date is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.51%. Timken's dividend payout ratio (DPR) is presently 25.14%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on TKR. Stifel Nicolaus raised their price target on Timken from $92.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Loop Capital raised their price target on Timken from $78.00 to $87.00 and gave the company a "hold" rating in a report on Wednesday, May 1st. Morgan Stanley initiated coverage on Timken in a report on Monday, January 8th. They set an "equal weight" rating and a $74.00 price target for the company. KeyCorp lifted their target price on Timken from $91.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Finally, StockNews.com lowered Timken from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Timken currently has a consensus rating of "Hold" and a consensus price target of $87.09.
View Our Latest Analysis on Timken
Insider Activity at Timken
In related news, CEO Richard G. Kyle sold 20,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares of the company's stock, valued at approximately $32,678,122.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Richard G. Kyle sold 20,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares of the company's stock, valued at approximately $32,678,122.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher A. Coughlin sold 29,006 shares of the company's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The disclosure for this sale can be found here. Insiders have sold 59,006 shares of company stock valued at $5,269,636 in the last ninety days. Corporate insiders own 8.70% of the company's stock.
Timken Profile
(
Free Report)
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.
Further Reading
Before you consider Timken, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Timken wasn't on the list.
While Timken currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
