ING Groep NV purchased a new stake in shares of Timken Company (The) (NYSE:TKR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,539 shares of the industrial products company’s stock, valued at approximately $395,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TKR. Vanguard Group Inc. increased its position in shares of Timken Company (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,130,314 shares of the industrial products company’s stock valued at $277,090,000 after buying an additional 188,261 shares during the last quarter. BlackRock Inc. increased its position in shares of Timken Company (The) by 5,786.0% in the first quarter. BlackRock Inc. now owns 5,674,424 shares of the industrial products company’s stock valued at $256,485,000 after buying an additional 5,578,018 shares during the last quarter. Boston Partners increased its position in shares of Timken Company (The) by 12.8% in the first quarter. Boston Partners now owns 2,901,889 shares of the industrial products company’s stock valued at $131,165,000 after buying an additional 330,391 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Timken Company (The) by 38.4% in the first quarter. Wellington Management Group LLP now owns 2,211,031 shares of the industrial products company’s stock valued at $99,939,000 after buying an additional 613,258 shares during the last quarter. Finally, State Street Corp increased its position in shares of Timken Company (The) by 3.7% in the first quarter. State Street Corp now owns 1,912,712 shares of the industrial products company’s stock valued at $86,455,000 after buying an additional 68,041 shares during the last quarter. 76.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Timken Company (NYSE:TKR) traded up 1.398% during trading on Tuesday, reaching $45.325. 241,116 shares of the company were exchanged. The stock’s 50 day moving average is $46.62 and its 200 day moving average is $45.57. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 22.494 and a beta of 1.38. Timken Company has a 1-year low of $31.60 and a 1-year high of $51.75.
Timken Company (The) (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The business had revenue of $750.60 million during the quarter, compared to analyst estimates of $716.50 million. During the same quarter last year, the business earned $0.55 earnings per share. Timken Company (The)’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts anticipate that Timken Company will post $2.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.42%. Timken Company (The)’s dividend payout ratio (DPR) is currently 51.67%.
TKR has been the topic of several research reports. BidaskClub cut shares of Timken Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “hold” rating and set a $45.00 price objective on shares of Timken Company (The) in a research report on Tuesday, April 18th. Zacks Investment Research cut shares of Timken Company (The) from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $53.00 price objective on shares of Timken Company (The) in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Timken Company (The) has an average rating of “Hold” and a consensus target price of $47.50.
In other Timken Company (The) news, Director Jacqueline F. Woods sold 1,300 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $46.02, for a total transaction of $59,826.00. Following the completion of the transaction, the director now owns 19,249 shares in the company, valued at $885,838.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William R. Burkhart sold 32,580 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $47.94, for a total transaction of $1,561,885.20. Following the transaction, the executive vice president now owns 55,640 shares of the company’s stock, valued at approximately $2,667,381.60. The disclosure for this sale can be found here. 11.08% of the stock is owned by company insiders.
Timken Company (The) Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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