Westwood Holdings Group Inc. Has $13.94 Million Stock Holdings in The Timken Company (NYSE:TKR)

Westwood Holdings Group Inc. trimmed its holdings in shares of The Timken Company (NYSE:TKR) by 24.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,906 shares of the industrial products company’s stock after selling 57,116 shares during the period. Westwood Holdings Group Inc. owned approximately 0.25% of Timken worth $13,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its position 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 worth $407,000 after purchasing an additional 155 shares in the last quarter. Manchester Capital Management LLC lifted its position in 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 in the last quarter. William Blair Investment Management LLC boosted its stake in shares of 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 valued at $515,000 after buying an additional 213 shares during the period. Kessler Investment Group LLC grew its holdings in shares of Timken by 5.7% during the 2nd quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 234 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased 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 worth $1,634,000 after acquiring an additional 237 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Price Performance

NYSE TKR opened at $82.59 on Friday. The company has a market cap of $5.82 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.73 and a beta of 1.44. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $82.48 and a 200 day simple moving average of $84.51.

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. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $2.01 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. On average, sell-side analysts predict that The Timken Company will post 6.11 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.34 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.65%. Timken’s payout ratio is 25.90%.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TKR has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and set a $103.00 price objective on shares of Timken in a research report on Tuesday, September 17th. Evercore ISI lowered their price target 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. Finally, Raymond James started coverage on shares of Timken in a research report on Friday, June 28th. They set a “market perform” rating on the stock. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.