F M Investments LLC Boosts Stake in The Timken Company (NYSE:TKR)

F M Investments LLC raised its position in The Timken Company (NYSE:TKR) by 41.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,459 shares of the industrial products company’s stock after purchasing an additional 4,252 shares during the quarter. F M Investments LLC’s holdings in Timken were worth $1,211,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC lifted its stake in Timken by 4.4% during the 3rd quarter. Ceredex Value Advisors LLC now owns 177,307 shares of the industrial products company’s stock worth $14,945,000 after acquiring an additional 7,500 shares in the last quarter. Weatherly Asset Management L. P. purchased a new stake in Timken during the third quarter worth about $412,000. Stephens Inc. AR lifted its position in shares of Timken by 11.7% during the third quarter. Stephens Inc. AR now owns 9,349 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 977 shares in the last quarter. US Bancorp DE boosted its stake in shares of Timken by 9.6% in the third quarter. US Bancorp DE now owns 3,550 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 310 shares during the period. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Timken by 6.5% in the third quarter. Pinnacle Associates Ltd. now owns 27,707 shares of the industrial products company’s stock valued at $2,221,000 after purchasing an additional 1,682 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Performance

Shares of TKR stock opened at $83.15 on Friday. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.89 and a beta of 1.43. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The stock’s 50-day moving average is $83.01 and its two-hundred day moving average is $84.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the business earned $2.01 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. Analysts predict that The Timken Company will post 6.05 earnings per share for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.64%. Timken’s payout ratio is currently 27.87%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TKR. DA Davidson reaffirmed a “buy” rating and set a $103.00 price objective on shares of Timken in a research report on Tuesday, September 17th. Evercore ISI lowered their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $91.70.

Timken Company 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.