The Timken Company (NYSE:TKR) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in The Timken Company (NYSE:TKR) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,484 shares of the industrial products company’s stock after selling 2,494 shares during the quarter. Amalgamated Bank owned 0.06% of Timken worth $3,244,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Comerica Bank boosted its position 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 worth $5,154,000 after buying an additional 7,160 shares during the period. Vanguard Group Inc. boosted 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 acquiring an additional 347,794 shares during the period. Fiduciary Management Inc. WI grew its position in Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after acquiring an additional 551,097 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Timken during the fourth quarter worth about $1,667,000. Finally, BNP Paribas acquired a new stake in shares of Timken during the first quarter worth about $1,144,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.8 %

TKR opened at $83.24 on Tuesday. 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. The company has a market cap of $5.86 billion, a P/E ratio of 15.86, a PEG ratio of 1.73 and a beta of 1.44. The business’s 50-day simple moving average is $82.46 and its 200-day simple moving average is $84.48.

Timken (NYSE:TKR) last released its quarterly earnings data 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 net margin of 7.52% and a return on equity of 16.36%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $2.01 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities research analysts expect that The Timken Company will post 6.11 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently announced 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is currently 25.90%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI cut 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 began coverage on Timken in a research note 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 target price on shares of Timken in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.18.

Insider Activity

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on 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 owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.70% of the company’s stock.

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.