The Timken Company (NYSE:TKR) Shares Sold by LSV Asset Management

LSV Asset Management reduced its position in shares of The Timken Company (NYSE:TKR) by 26.8% during the first quarter, HoldingsChannel reports. The firm owned 616,692 shares of the industrial products company’s stock after selling 225,500 shares during the quarter. LSV Asset Management’s holdings in Timken were worth $53,917,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Timken by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 155 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Timken by 10.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,954 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 179 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Timken by 51.3% during the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 205 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Timken by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock worth $2,097,000 after purchasing an additional 262 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Timken in the 1st quarter valued at about $26,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price target on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Loop Capital boosted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Raymond James initiated coverage on Timken in a research report on Friday, June 28th. They set a “market perform” rating on the stock. KeyCorp boosted their target price on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $87.91.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now directly owns 366,799 shares in the company, valued at $32,678,122.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Philip D. Fracassa sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the sale, the chief financial officer now owns 105,541 shares in the company, valued at $9,473,360.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is owned by corporate insiders.

Timken Stock Performance

Shares of NYSE:TKR traded up $1.47 during trading hours on Friday, hitting $83.43. The stock had a trading volume of 391,151 shares, compared to its average volume of 476,479. The stock’s fifty day simple moving average is $84.93 and its 200 day simple moving average is $83.90. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.69 and a beta of 1.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The Timken Company has a 1-year low of $65.71 and a 1-year high of $94.71.

Timken (NYSE:TKR) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $2.09 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that The Timken Company will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.34 per share. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, May 13th. This represents a $1.36 annualized dividend and a yield of 1.63%. Timken’s dividend payout ratio (DPR) is presently 25.90%.

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.