Sei Investments Co. Purchases 43,169 Shares of The Timken Company (NYSE:TKR)

Sei Investments Co. boosted its position in The Timken Company (NYSE:TKR) by 11.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,339 shares of the industrial products company’s stock after purchasing an additional 43,169 shares during the quarter. Sei Investments Co. owned about 0.62% of Timken worth $35,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank grew its stake 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 acquiring an additional 7,160 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Timken by 5.6% in the first 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 in the last quarter. Fiduciary Management Inc. WI boosted its stake in shares of Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after buying an additional 551,097 shares during the period. Nomura Holdings Inc. acquired a new stake in Timken during the fourth quarter worth approximately $1,667,000. Finally, BNP Paribas bought a new position in Timken during the 1st quarter worth $1,144,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TKR. DA Davidson reiterated a “buy” rating and set a $103.00 target price on shares of Timken in a research report on Tuesday, September 17th. Raymond James initiated coverage on shares of Timken in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI dropped their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. One equities 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’s stock. Based on data from MarketBeat, Timken has a consensus rating of “Hold” and a consensus target price of $89.18.

Timken Stock Up 0.8 %

Shares of NYSE:TKR opened at $83.24 on Tuesday. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. The company has a market capitalization of $5.86 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The company has a fifty day moving average of $82.46 and a 200-day moving average of $84.48.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The firm had revenue of $1.18 billion during 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%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the company earned $2.01 earnings per share. On average, equities analysts predict that The Timken Company will post 6.11 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s payout ratio is currently 25.90%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.70% of the stock is owned by company insiders.

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.