Thoroughbred Financial Services LLC Makes New Investment in The Timken Company (NYSE:TKR)

Thoroughbred Financial Services LLC acquired a new position in shares of The Timken Company (NYSE:TKR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,643 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other hedge funds also recently added to or reduced their stakes in TKR. Fidelis Capital Partners LLC acquired a new position in Timken during the 1st quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in Timken during the 4th quarter worth $30,000. Versant Capital Management Inc acquired a new position in Timken during the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC lifted its position 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 worth $32,000 after buying an additional 343 shares during the last quarter. Finally, Manchester Capital Management LLC lifted 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 worth $53,000 after buying an additional 205 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Timken in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Evercore ISI reduced their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. DA Davidson restated a “buy” rating and issued a $103.00 price target on shares of Timken in a research report on Tuesday. Finally, KeyCorp raised their price target on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.18.

Timken Trading Up 1.2 %

Shares of NYSE:TKR opened at $81.58 on Wednesday. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $94.71. The company has a market cap of $5.74 billion, a PE ratio of 15.54, a P/E/G ratio of 1.69 and a beta of 1.44. The company’s 50-day moving average price is $82.37 and its 200 day moving average price is $84.56. 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 released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $2.01 EPS. Timken’s revenue was down 7.1% on a year-over-year basis. Sell-side analysts anticipate that The Timken Company will post 6.13 earnings per share for the current year.

Timken Announces Dividend

The business also recently declared 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 dividend yield of 1.67%. Timken’s dividend payout ratio (DPR) is 25.90%.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the business’s 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 sale, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is owned by insiders.

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.