Timken (NYSE:TKR) Hits New 52-Week Low – Here’s Why

The Timken Company (NYSE:TKR) shares hit a new 52-week low during trading on Monday . The company traded as low as $70.13 and last traded at $70.27, with a volume of 23500 shares. The stock had previously closed at $71.48.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. DA Davidson decreased their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Timken has a consensus rating of “Moderate Buy” and a consensus price target of $92.90.

Timken Trading Down 0.5 %

The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The company’s 50-day moving average price is $77.22 and its 200-day moving average price is $80.58. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts expect that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.91%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Timken

A number of large investors have recently made changes to their positions in TKR. Coastline Trust Co purchased a new position in Timken during the third quarter worth approximately $29,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken in the 3rd quarter worth $32,000. UMB Bank n.a. raised its holdings in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Timken during the 2nd quarter valued at about $44,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Timken in the third quarter valued at about $74,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Company 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.