Westwood Holdings Group Inc. Sells 57,116 Shares of The Timken Company (NYSE:TKR)

Westwood Holdings Group Inc. reduced its holdings in shares of The Timken Company (NYSE:TKR) by 24.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 173,906 shares of the industrial products company’s stock after selling 57,116 shares during the period. Westwood Holdings Group Inc.’s holdings in Timken were worth $13,935,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Timken in the 4th quarter valued at approximately $56,995,000. Fiduciary Management Inc. WI grew its position in Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after acquiring an additional 551,097 shares during the period. Vanguard Group Inc. raised its stake in Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares in the last quarter. Interval Partners LP bought a new position in shares of Timken during the first quarter valued at $22,907,000. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Timken by 15.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock worth $105,247,000 after purchasing an additional 178,870 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of recent analyst reports. Evercore ISI reduced their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Raymond James initiated coverage on Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.18.

Insiders Place Their Bets

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value of $2,413,800.00. Following the sale, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Performance

Timken stock opened at $82.59 on Friday. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71. The company’s 50-day moving average is $82.48 and its two-hundred day moving average is $84.51. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.82 billion, a PE ratio of 15.73, a PEG ratio of 1.73 and a beta of 1.44.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 EPS. Equities analysts anticipate that The Timken Company will post 6.11 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s payout ratio is 25.90%.

About Timken

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.