Hotchkis & Wiley Capital Management LLC Acquires 434,800 Shares of The Timken Company (NYSE:TKR)

Hotchkis & Wiley Capital Management LLC boosted its holdings in The Timken Company (NYSE:TKR) by 34.3% during the third quarter, Holdings Channel reports. The institutional investor owned 1,700,979 shares of the industrial products company’s stock after buying an additional 434,800 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Timken were worth $143,376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TKR. Verition Fund Management LLC boosted its stake in shares of Timken by 3,179.1% during the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 187,946 shares in the last quarter. American Century Companies Inc. raised its position in Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after purchasing an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after acquiring an additional 97,550 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Timken during the 2nd quarter valued at about $6,897,000. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of recent research reports. Oppenheimer dropped their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. DA Davidson decreased 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 upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Citigroup assumed coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $90.00.

Timken Stock Performance

Shares of NYSE:TKR opened at $77.93 on Tuesday. The Timken Company has a 1 year low of $72.35 and a 1 year high of $94.71. The business’s 50 day moving average price is $80.96 and its 200-day moving average price is $82.27. The firm has a market capitalization of $5.46 billion, a PE ratio of 16.20, a P/E/G ratio of 1.15 and a beta of 1.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62.

Timken (NYSE:TKR) last released its quarterly 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). Timken had a return on equity of 14.82% and a net margin of 7.41%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business posted $1.55 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio is currently 28.27%.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

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.