Stifel Financial Corp Buys 7,999 Shares of The Timken Company (NYSE:TKR)

Stifel Financial Corp boosted its position in shares of The Timken Company (NYSE:TKR) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,868 shares of the industrial products company’s stock after purchasing an additional 7,999 shares during the period. Stifel Financial Corp owned about 0.09% of Timken worth $5,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TKR. Creative Planning grew its holdings in shares of Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after buying an additional 150 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its position in Timken by 1.0% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after acquiring an additional 155 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Timken by 20.0% in 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. lifted its position in shares of Timken by 64.1% in 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 in the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in Timken by 3.8% during 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 during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Down 0.6 %

Shares of TKR opened at $75.50 on Friday. The firm’s 50-day simple moving average is $79.64 and its 200 day simple moving average is $81.47. 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 firm has a market cap of $5.29 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The Timken Company has a 52 week low of $72.35 and a 52 week high of $94.71.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the business posted $1.55 EPS. Timken’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.80%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TKR has been the topic of several analyst reports. Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Citigroup upgraded Timken from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $90.00 in a research note on Monday, December 9th. Finally, DA Davidson decreased 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Timken has an average rating of “Moderate Buy” and a consensus target price of $91.00.

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.