The Timken Company (NYSE:TKR) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in shares of The Timken Company (NYSE:TKR) by 24.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,433 shares of the industrial products company’s stock after selling 10,051 shares during the period. Amalgamated Bank’s holdings in Timken were worth $2,565,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TKR. QRG Capital Management Inc. raised its position in Timken by 1.7% in the 3rd quarter. QRG Capital Management Inc. now owns 51,735 shares of the industrial products company’s stock valued at $4,361,000 after purchasing an additional 847 shares during the last quarter. Forum Financial Management LP acquired a new position in Timken in the third quarter valued at $204,000. Van ECK Associates Corp raised its holdings in shares of Timken by 40.0% in the third quarter. Van ECK Associates Corp now owns 36,861 shares of the industrial products company’s stock valued at $3,100,000 after buying an additional 10,532 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Timken by 271.9% during the third quarter. Harbor Capital Advisors Inc. now owns 46,928 shares of the industrial products company’s stock worth $3,956,000 after buying an additional 34,311 shares during the period. Finally, F M Investments LLC grew its holdings in shares of Timken by 41.7% during the third quarter. F M Investments LLC now owns 14,459 shares of the industrial products company’s stock worth $1,211,000 after buying an additional 4,252 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup started coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Oppenheimer dropped their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. DA Davidson reduced 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. Finally, KeyCorp lowered their target price on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.60.

Timken Price Performance

TKR stock opened at $76.85 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.64 and a current ratio of 3.00. The stock’s 50 day moving average price is $82.41 and its 200 day moving average price is $83.73. The firm has a market cap of $5.39 billion, a P/E ratio of 15.98, a PEG ratio of 1.14 and a beta of 1.43. The Timken Company has a 1 year low of $70.15 and a 1 year high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, sell-side analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

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.