Mercer Global Advisors Inc. ADV Increases Holdings in The Timken Company (NYSE:TKR)

Mercer Global Advisors Inc. ADV raised its stake in The Timken Company (NYSE:TKR) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,348 shares of the industrial products company’s stock after buying an additional 2,302 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.06% of Timken worth $3,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TKR. Comerica Bank grew its holdings in shares of Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock valued at $5,154,000 after purchasing an additional 7,160 shares during the period. Vanguard Group Inc. grew its stake in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after buying an additional 347,794 shares during the period. Fiduciary Management Inc. WI increased its holdings in shares of Timken by 94.7% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after buying an additional 551,097 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Timken during the 4th quarter valued at approximately $1,667,000. Finally, BNP Paribas acquired a new position in Timken in the first quarter valued at approximately $1,144,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 274,485 shares of the company’s stock, valued at approximately $22,167,408.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Timken Trading Down 1.9 %

NYSE:TKR opened at $82.59 on Monday. 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 firm has a market cap of $5.82 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. The stock has a fifty day moving average price of $82.48 and a 200 day moving average price of $84.50. The Timken Company has a 12-month low of $65.71 and a 12-month high of $94.71.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share 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 firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. Sell-side analysts anticipate that The Timken Company will post 6.11 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TKR shares. Evercore ISI reduced their target price on 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 reaffirmed a “buy” rating and issued a $103.00 target price on shares of Timken in a research report on Tuesday, September 17th. Finally, Raymond James initiated coverage on shares of Timken in a research report on Friday, June 28th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Timken currently has a consensus rating of “Hold” and an average 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.