Envestnet Asset Management Inc. Purchases 12,883 Shares of The Timken Company (NYSE:TKR)

Envestnet Asset Management Inc. grew its position in The Timken Company (NYSE:TKR) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,471 shares of the industrial products company’s stock after acquiring an additional 12,883 shares during the quarter. Envestnet Asset Management Inc. owned 0.27% of Timken worth $15,102,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new stake in shares of Timken in the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new stake in shares of Timken in the 4th quarter worth approximately $30,000. Versant Capital Management Inc bought a new stake in shares of Timken in the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. Finally, Manchester Capital Management LLC lifted its position in shares of Timken by 51.3% during the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after buying an additional 205 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.8 %

TKR stock opened at $83.93 on Wednesday. The business has a fifty day moving average price of $82.38 and a 200 day moving average price of $84.47. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $94.71. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.73 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The company had revenue of $1.18 billion during 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%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the firm earned $2.01 EPS. Analysts expect that The Timken Company will post 6.11 EPS for the current fiscal 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 paid 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 1.62%. Timken’s dividend payout ratio (DPR) is currently 25.90%.

Insider Activity

In other news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Thursday, August 8th. The stock was 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 directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TKR. Raymond James began coverage on Timken in a research report on Friday, June 28th. They set a “market perform” rating for the company. DA Davidson restated a “buy” rating and set a $103.00 target price on shares of Timken in a research report 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 for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Timken currently has a consensus rating of “Hold” and a consensus target price of $89.18.

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.