Point72 DIFC Ltd Invests $979,000 in The Timken Company (NYSE:TKR)

Point72 DIFC Ltd purchased a new stake in shares of The Timken Company (NYSE:TKR) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,215 shares of the industrial products company’s stock, valued at approximately $979,000.

Several other hedge funds have also bought and sold shares of TKR. Fidelis Capital Partners LLC bought a new stake in Timken in the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC grew its position in Timken by 1,905.6% in the 1st 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 period. Versant Capital Management Inc purchased a new stake in Timken during the 2nd quarter valued at $30,000. Livelsberger Financial Advisory purchased a new position in shares of Timken in the 4th quarter worth $30,000. Finally, Manchester Capital Management LLC grew its holdings in shares of Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 205 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore ISI dropped their target price on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. DA Davidson reissued a “buy” rating and issued a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Finally, Raymond James assumed coverage on shares of Timken in a report on Friday, June 28th. They set a “market perform” rating for the company. One equities research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.18.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 274,485 shares in the company, valued at $22,167,408.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.70% of the company’s stock.

Timken Price Performance

NYSE:TKR opened at $83.93 on Wednesday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.79 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. The business has a 50 day simple moving average of $82.38 and a 200-day simple moving average of $84.47. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating 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%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 earnings per share. Equities analysts forecast 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. Shareholders of record on Tuesday, August 20th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is 25.90%.

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.