The Timken Company (NYSE:TKR) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its holdings in shares of The Timken Company (NYSE:TKR) by 6.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,367 shares of the industrial products company’s stock after purchasing an additional 279 shares during the quarter. Inspire Investing LLC’s holdings in Timken were worth $350,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken during the first quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new position in Timken during the fourth quarter worth $30,000. Versant Capital Management Inc bought a new position in Timken during the second quarter worth $30,000. EverSource Wealth Advisors LLC lifted its stake in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Price Performance

NYSE:TKR opened at $83.24 on Tuesday. The business’s 50-day moving average price is $82.46 and its 200 day moving average price is $84.48. The firm 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 Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

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

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid 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 yield of 1.63%. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the transaction, the chief executive officer now owns 274,485 shares of the company’s stock, valued at approximately $22,167,408.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

TKR has been the topic of several research analyst reports. Raymond James initiated coverage on Timken in a research note on Friday, June 28th. They set a “market perform” rating on the stock. DA Davidson restated a “buy” rating and set a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Finally, Evercore ISI cut their target price on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Timken currently has an average rating of “Hold” and an average target price of $89.18.

Timken 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.