The Timken Company (NYSE:TKR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in The Timken Company (NYSE:TKR) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,572,440 shares of the industrial products company’s stock after selling 9,259 shares during the quarter. Thrivent Financial for Lutherans owned approximately 3.67% of Timken worth $206,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TKR. Envestnet Portfolio Solutions Inc. grew its stake in shares of Timken by 3.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after buying an additional 155 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after buying an additional 205 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Timken by 3.7% in the first quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock valued at $515,000 after buying an additional 213 shares in the last quarter. Kessler Investment Group LLC grew its stake in shares of Timken by 5.7% in the second quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company’s stock valued at $346,000 after buying an additional 234 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Timken by 1.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,392 shares of the industrial products company’s stock valued at $1,634,000 after buying an additional 237 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Trading Down 1.9 %

NYSE:TKR opened at $82.55 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $82.50 and its two-hundred day moving average is $84.52. The Timken Company has a 52 week low of $65.71 and a 52 week high of $94.71. The company has a market cap of $5.81 billion, a PE ratio of 15.72, a P/E/G ratio of 1.73 and a beta of 1.44.

Timken (NYSE:TKR) last released its 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. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. On average, analysts predict that The Timken Company will post 6.11 EPS for the current year.

Timken Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, August 20th. Timken’s payout ratio is 25.90%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TKR shares. Evercore ISI lowered 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. Raymond James initiated coverage on Timken in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.18.

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.