Axa S.A. Raises Position in The Timken Company (NYSE:TKR)

Axa S.A. lifted its position in The Timken Company (NYSE:TKR) by 39.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,817 shares of the industrial products company’s stock after buying an additional 2,217 shares during the period. Axa S.A.’s holdings in Timken were worth $626,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Management Inc. WI lifted 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. Vanguard Group Inc. increased its holdings in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares in the last quarter. Interval Partners LP purchased a new position in Timken in the 1st quarter worth about $22,907,000. Westwood Holdings Group Inc. lifted its stake in Timken by 6,368.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 193,790 shares of the industrial products company’s stock valued at $15,532,000 after acquiring an additional 190,794 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Timken by 15.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock valued at $105,247,000 after acquiring an additional 178,870 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

NYSE:TKR opened at $83.88 on Wednesday. The stock has a 50-day moving average price of $82.33 and a 200 day moving average price of $84.40. 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 Timken Company has a 12-month low of $65.71 and a 12-month high of $94.71. The stock has a market capitalization of $5.88 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.83 and a beta of 1.44.

Timken (NYSE:TKR) last released 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. Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the business posted $2.01 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities research analysts forecast that The Timken Company will post 6.11 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.62%. Timken’s payout ratio is 25.90%.

Insider Transactions at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 274,485 shares of the company’s stock, valued at approximately $22,167,408.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of 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 restated a “buy” rating and issued a $103.00 price target on shares of Timken in a research note on Tuesday, September 17th. Finally, Raymond James started coverage on Timken in a report on Friday, June 28th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.