Intech Investment Management LLC Invests $416,000 in The Timken Company (NYSE:TKR)

Intech Investment Management LLC acquired a new stake in The Timken Company (NYSE:TKR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,190 shares of the industrial products company’s stock, valued at approximately $416,000.

Several other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken in the 1st quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Timken in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc bought a new stake in shares of Timken during the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 343 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of 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 buying an additional 205 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 244,485 shares in the company, valued at $19,671,263.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TKR. Evercore ISI reduced their price objective on 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 began coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.18.

Timken Trading Up 0.2 %

NYSE TKR opened at $84.96 on Friday. The stock has a market capitalization of $5.96 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.80 and a beta of 1.44. The business has a 50 day simple moving average of $82.31 and a 200 day simple moving average of $84.45. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The Timken Company has a one year low of $65.71 and a one year high of $94.71.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The company had revenue of $1.18 billion during 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%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $2.01 EPS. Research analysts expect that The Timken Company will post 6.11 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) 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.