The Timken Company (NYSE:TKR) Holdings Lowered by Atria Investments Inc

Atria Investments Inc cut its stake in The Timken Company (NYSE:TKR) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,810 shares of the industrial products company’s stock after selling 248 shares during the period. Atria Investments Inc’s holdings in Timken were worth $743,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 347,794 shares during the period. Westwood Holdings Group Inc. grew its holdings in Timken by 19.2% during the first quarter. Westwood Holdings Group Inc. now owns 231,022 shares of the industrial products company’s stock worth $20,198,000 after acquiring an additional 37,232 shares during the period. BOKF NA raised its position in Timken by 2.3% in the first quarter. BOKF NA now owns 12,369 shares of the industrial products company’s stock worth $1,087,000 after acquiring an additional 275 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Timken by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,317 shares of the industrial products company’s stock valued at $7,810,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Timken during the 1st quarter valued at about $9,130,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is currently owned by company insiders.

Timken Trading Down 1.1 %

NYSE:TKR opened at $74.79 on Tuesday. The stock’s 50-day moving average is $81.81 and its two-hundred day moving average is $83.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The stock has a market cap of $5.24 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The Timken Company has a fifty-two week low of $71.57 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s payout ratio is 28.27%.

Analysts Set New Price Targets

TKR has been the topic of several recent research reports. Citigroup began coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. DA Davidson decreased their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Oppenheimer cut their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, KeyCorp decreased their price target on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $90.00.

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.