Winslow Asset Management Inc. Acquires 175 Shares of The Timken Company (NYSE:TKR)

Winslow Asset Management Inc. lifted its stake in The Timken Company (NYSE:TKR) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,050 shares of the industrial products company’s stock after purchasing an additional 175 shares during the period. Winslow Asset Management Inc.’s holdings in Timken were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TKR. Versant Capital Management Inc acquired a new position in Timken in the second quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Timken in the 3rd quarter valued at approximately $32,000. UMB Bank n.a. raised its position in shares of Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Timken during the 2nd quarter worth approximately $44,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Price Performance

Shares of TKR opened at $76.52 on Tuesday. The company has a 50 day moving average of $82.25 and a 200-day moving average of $83.67. The company has a quick ratio of 1.64, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.37 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.14 and a beta of 1.43. The Timken Company has a twelve month low of $70.15 and a twelve month high of $94.71.

Timken (NYSE:TKR) last released 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 net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $1.55 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.78%. Timken’s payout ratio is presently 28.27%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. KeyCorp cut their target price on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. DA Davidson dropped their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI decreased their target price on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Oppenheimer lowered their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Citigroup started coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.60.

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.