Ameritas Investment Partners Inc. Decreases Holdings in The Timken Company (NYSE:TKR)

Ameritas Investment Partners Inc. reduced its position in The Timken Company (NYSE:TKR) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,278 shares of the industrial products company’s stock after selling 553 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Timken were worth $2,026,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in Timken during the 1st quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in Timken in the fourth quarter worth about $30,000. Versant Capital Management Inc purchased a new stake in shares of Timken during the second quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of Timken by 51.3% in the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 205 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the sale, the chief executive officer now owns 274,485 shares in the company, valued at $22,167,408.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

Timken Price Performance

NYSE:TKR opened at $82.59 on Friday. The firm’s fifty day moving average is $82.48 and its two-hundred day moving average is $84.51. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 15.73, a PEG 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 Timken Company has a one year low of $65.71 and a one year high of $94.71.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $1.18 billion for 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 company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. Research analysts expect that The Timken Company will post 6.11 EPS for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 1.65%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is 25.90%.

Analysts Set New Price Targets

Several analysts have weighed in on TKR shares. Raymond James began coverage on shares of Timken in a research report on Friday, June 28th. They set a “market perform” rating on the stock. DA Davidson reissued a “buy” rating and set a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Finally, Evercore ISI reduced their target price on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently 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.