Envestnet Asset Management Inc. Has $15.10 Million Holdings in The Timken Company (NYSE:TKR)

Envestnet Asset Management Inc. increased its stake in shares of The Timken Company (NYSE:TKR) by 7.3% in the second quarter, Holdings Channel reports. The firm owned 188,471 shares of the industrial products company’s stock after buying an additional 12,883 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Timken were worth $15,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in Timken during the first quarter worth about $26,000. Livelsberger Financial Advisory bought a new position in Timken during the fourth quarter worth about $30,000. Versant Capital Management Inc bought a new position in Timken during the second quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its holdings in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 205 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TKR. Evercore ISI reduced their target price on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. DA Davidson restated a “buy” rating and issued a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Finally, Raymond James initiated coverage on Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Timken has an average rating of “Hold” and an average target price of $89.18.

Timken Price Performance

NYSE:TKR opened at $83.93 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The stock’s 50-day simple moving average is $82.38 and its 200 day simple moving average is $84.47. The company has a market cap of $5.91 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.73 and a beta of 1.44. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71.

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

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, August 20th. Timken’s dividend payout ratio is currently 25.90%.

Insider Activity at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.70% of the stock is owned by company insiders.

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.