MQS Management LLC Invests $209,000 in The Timken Company (NYSE:TKR)

MQS Management LLC acquired a new stake in shares of The Timken Company (NYSE:TKR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,606 shares of the industrial products company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Timken by 154.9% in the fourth quarter. BNP Paribas Financial Markets now owns 7,934 shares of the industrial products company’s stock worth $636,000 after purchasing an additional 4,822 shares in the last quarter. Norges Bank purchased a new stake in Timken in the 4th quarter worth $56,995,000. Trexquant Investment LP bought a new stake in Timken during the fourth quarter valued at about $596,000. Commerce Bank purchased a new position in shares of Timken in the fourth quarter valued at about $474,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of Timken by 145.4% in the fourth quarter. Johnson Financial Group Inc. now owns 1,264 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 749 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now 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 SEC, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TKR. DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Raymond James began coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Evercore ISI cut 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 note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus price target of $89.18.

Timken Stock Down 1.9 %

Shares of NYSE:TKR opened at $82.59 on Friday. The company 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 Timken Company has a 12 month low of $65.71 and a 12 month high of $94.71. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $82.48 and a 200 day moving average price of $84.51.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the company earned $2.01 EPS. As a group, equities research analysts predict that The Timken Company will post 6.11 earnings per share 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 $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.65%. Timken’s dividend payout ratio (DPR) is presently 25.90%.

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.