Vanguard Personalized Indexing Management LLC Acquires 493 Shares of The Timken Company (NYSE:TKR)

Vanguard Personalized Indexing Management LLC raised its holdings in shares of The Timken Company (NYSE:TKR) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,313 shares of the industrial products company’s stock after acquiring an additional 493 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Timken were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its stake in shares of Timken by 13.8% during the 1st 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 holdings in Timken by 5.6% during 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 in the last quarter. Fiduciary Management Inc. WI increased its position in shares of Timken by 94.7% during 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. purchased a new stake in shares of Timken in the fourth quarter worth about $1,667,000. Finally, BNP Paribas bought a new position in shares of Timken in the first quarter valued at approximately $1,144,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.8 %

Shares of TKR stock opened at $83.93 on Wednesday. The business has a 50-day moving average price of $82.38 and a two-hundred day moving average price of $84.47. The Timken Company has a 12-month low of $65.71 and a 12-month high of $94.71. 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 firm has a market cap of $5.91 billion, a P/E ratio of 15.99, a price-to-earnings-growth 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $2.01 EPS. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. Equities analysts anticipate that The Timken Company will post 6.11 EPS for the current fiscal year.

Timken Dividend Announcement

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 dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is currently 25.90%.

Insider Buying and Selling

In other news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The sale 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 corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on TKR. Evercore ISI lowered their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Raymond James started coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, DA Davidson reissued a “buy” rating and set a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.18.

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.