The Timken Company (NYSE:TKR) Short Interest Update

The Timken Company (NYSE:TKR) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,790,000 shares, an increase of 17.0% from the August 31st total of 1,530,000 shares. Based on an average daily volume of 476,700 shares, the short-interest ratio is presently 3.8 days. Approximately 2.8% of the shares of the company are short sold.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Monday, August 5th. The shares were sold at an average price of $80.76, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now owns 274,485 shares in the company, valued at approximately $22,167,408.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning increased its holdings 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 purchasing an additional 150 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake 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 acquiring an additional 155 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Timken by 51.3% in the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 205 shares during the period. William Blair Investment Management LLC boosted its stake in Timken by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 213 shares during the last quarter. Finally, Kessler Investment Group LLC grew its holdings in Timken by 5.7% during the second quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 234 shares during the period. 89.08% of the stock is owned by institutional investors.

Timken Trading Down 1.5 %

NYSE:TKR traded down $1.30 during trading hours on Monday, hitting $83.67. 179,908 shares of the stock were exchanged, compared to its average volume of 474,786. The company’s 50 day moving average is $82.31 and its two-hundred day moving average is $84.42. The company has a market capitalization of $5.89 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44. Timken has a twelve month low of $65.71 and a twelve month high of $94.71. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 earnings per share. On average, sell-side analysts anticipate that Timken will post 6.11 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is 25.90%.

Analyst Ratings Changes

A number of brokerages have weighed in on TKR. Evercore ISI reduced 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. DA Davidson reiterated a “buy” rating and issued a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Finally, Raymond James started coverage on shares of Timken in a report on Friday, June 28th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.18.

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.