Blue Trust Inc. Acquires 166 Shares of The Timken Company (NYSE:TKR)

Blue Trust Inc. grew its holdings in The Timken Company (NYSE:TKR) by 20.0% during the 3rd quarter, Holdings Channel reports. The fund owned 997 shares of the industrial products company’s stock after buying an additional 166 shares during the period. Blue Trust Inc.’s holdings in Timken were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Michigan Retirement System raised its holdings in Timken by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 15,923 shares of the industrial products company’s stock worth $1,392,000 after purchasing an additional 400 shares during the period. Norden Group LLC bought a new position in shares of Timken in the first quarter worth about $1,341,000. Van ECK Associates Corp lifted its position in shares of Timken by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 21,867 shares of the industrial products company’s stock valued at $1,912,000 after buying an additional 5,849 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Timken during the 1st quarter valued at approximately $531,000. Finally, Janney Montgomery Scott LLC increased its holdings in Timken by 6.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 106,932 shares of the industrial products company’s stock worth $9,349,000 after acquiring an additional 6,398 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

Shares of NYSE TKR opened at $84.29 on Thursday. The company has a market cap of $5.91 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.92 and a beta of 1.43. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. 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 firm’s fifty day moving average is $83.04 and its two-hundred day moving average is $84.03.

Timken (NYSE:TKR) last posted 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. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $2.01 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, analysts anticipate that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.61%. Timken’s dividend payout ratio (DPR) is 27.87%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the topic of several analyst reports. Evercore ISI lowered their price target on shares of 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 set a $103.00 target price on shares of Timken in a research note on Tuesday, September 17th. Finally, Citigroup initiated coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Timken presently has a consensus rating of “Hold” and an average target price of $91.70.

Timken 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.