The Timken Company (NYSE:TKR) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its position in The Timken Company (NYSE:TKR) by 0.6% during the third quarter, Holdings Channel.com reports. The firm owned 24,482 shares of the industrial products company’s stock after acquiring an additional 144 shares during the period. M&T Bank Corp’s holdings in Timken were worth $2,064,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Creative Planning raised its stake in Timken by 1.7% in the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock valued at $731,000 after buying an additional 150 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in shares of Timken by 1.0% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after acquiring an additional 155 shares during the last quarter. Blue Trust Inc. raised its position in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 166 shares in the last quarter. UMB Bank n.a. lifted its stake in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in Timken by 3.8% in the third quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 168 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Price Performance

Shares of NYSE TKR opened at $75.50 on Friday. The stock has a fifty day moving average price of $79.64 and a 200 day moving average price of $81.47. The Timken Company has a 1-year low of $72.35 and a 1-year high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The company has a market cap of $5.29 billion, a PE ratio of 15.70, a P/E/G ratio of 1.12 and a beta of 1.38.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Sell-side analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is 28.27%.

Wall Street Analyst Weigh In

TKR has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $90.00 in a research note on Monday, December 9th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Oppenheimer decreased their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.00.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

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.