Sciencast Management LP Acquires 1,949 Shares of Timken Co (NYSE:TKR)

Sciencast Management LP grew its holdings in Timken Co (NYSE:TKR) by 21.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,899 shares of the industrial products company’s stock after acquiring an additional 1,949 shares during the quarter. Sciencast Management LP’s holdings in Timken were worth $499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Timken in the 4th quarter valued at approximately $9,854,000. Norges Bank acquired a new position in shares of Timken in the fourth quarter valued at approximately $49,940,000. State of Alaska Department of Revenue increased its position in shares of Timken by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 23,067 shares of the industrial products company’s stock worth $745,000 after acquiring an additional 537 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Timken by 107.8% during the first quarter. Ellevest Inc. now owns 1,066 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 553 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in Timken by 5.9% in the 1st quarter. Deprince Race & Zollo Inc. now owns 410,350 shares of the industrial products company’s stock valued at $13,271,000 after acquiring an additional 22,756 shares in the last quarter. 77.56% of the stock is currently owned by institutional investors.

NYSE:TKR opened at $45.66 on Friday. Timken Co has a 1-year low of $22.25 and a 1-year high of $58.78. The company has a current ratio of 2.72, a quick ratio of 1.65 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $45.37 and a 200 day simple moving average of $43.32. The stock has a market capitalization of $3.43 billion, a PE ratio of 9.97, a P/E/G ratio of 6.48 and a beta of 1.81.

Timken (NYSE:TKR) last announced its quarterly earnings results on Friday, May 1st. The industrial products company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $923.40 million during the quarter, compared to analysts’ expectations of $917.91 million. Timken had a net margin of 9.40% and a return on equity of 17.93%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 earnings per share. On average, equities analysts predict that Timken Co will post 2.7 earnings per share for the current fiscal year.

TKR has been the topic of several recent research reports. TheStreet raised Timken from a “c” rating to a “b-” rating in a research note on Wednesday, June 17th. Morgan Stanley dropped their target price on Timken from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a research report on Wednesday, July 15th. Finally, Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a report on Tuesday, July 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Timken presently has a consensus rating of “Hold” and a consensus price target of $53.40.

About Timken

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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