Sequoia Financial Advisors LLC Increases Stake in The Timken Company (NYSE:TKR)

Sequoia Financial Advisors LLC boosted its holdings in shares of The Timken Company (NYSE:TKR) by 72.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,705 shares of the industrial products company’s stock after acquiring an additional 2,405 shares during the period. Sequoia Financial Advisors LLC’s holdings in Timken were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in Timken in the second quarter valued at approximately $4,363,000. Comerica Bank increased its holdings in shares of Timken by 13.8% during 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. boosted its stake in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after purchasing an additional 347,794 shares in the last quarter. BNP Paribas purchased a new stake in shares of Timken during the first quarter valued at $1,144,000. Finally, Sei Investments Co. grew its stake in Timken by 26.4% during the 1st quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock valued at $34,462,000 after purchasing an additional 82,382 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TKR has been the topic of a number of recent research reports. Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Evercore ISI decreased 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. Finally, DA Davidson restated a “buy” rating and set a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Timken presently has an average rating of “Hold” and a consensus target price of $91.70.

Timken Price Performance

Shares of TKR stock opened at $84.61 on Monday. The firm’s 50-day moving average is $82.92 and its two-hundred day moving average is $84.03. The Timken Company has a 12 month low of $65.71 and a 12 month high of $94.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The company has a market capitalization of $5.96 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.92 and a beta of 1.43.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. Timken’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.01 earnings per share. Analysts predict that The Timken Company will post 6.05 earnings per share for the current year.

Timken Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.61%. Timken’s dividend payout ratio is currently 25.90%.

Insider Activity at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were 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 $19,671,263.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.70% of the stock is currently 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.