Townsquare Capital LLC Lowers Position in The Timken Company (NYSE:TKR)

Townsquare Capital LLC decreased its stake in shares of The Timken Company (NYSE:TKR) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,054 shares of the industrial products company’s stock after selling 783 shares during the period. Townsquare Capital LLC’s holdings in Timken were worth $763,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TKR. Creative Planning raised its stake in shares of Timken by 1.7% in the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock valued at $731,000 after buying an additional 150 shares during the period. Beese Fulmer Investment Management Inc. raised its stake in Timken by 1.0% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after acquiring an additional 155 shares during the period. Blue Trust Inc. lifted its holdings in Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 166 shares during the last quarter. UMB Bank n.a. boosted its position in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the period. Finally, Verdence Capital Advisors LLC increased its stake in shares of Timken by 3.8% in the third quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.70% of the company’s stock.

Timken Stock Down 0.4 %

TKR stock opened at $77.62 on Wednesday. The Timken Company has a fifty-two week low of $72.35 and a fifty-two week high of $94.71. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.16 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The business’s 50-day moving average is $80.85 and its two-hundred day moving average is $82.18.

Timken (NYSE:TKR) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. As a group, analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio is presently 28.27%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Oppenheimer cut their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup began coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, DA Davidson cut their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Timken currently has a consensus rating of “Hold” and a consensus price target of $90.00.

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.