New England Research & Management Inc. Sells 1,050 Shares of The Timken Company (NYSE:TKR)

New England Research & Management Inc. lessened its holdings in shares of The Timken Company (NYSE:TKR) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,500 shares of the industrial products company’s stock after selling 1,050 shares during the quarter. New England Research & Management Inc.’s holdings in Timken were worth $716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in Timken during the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings 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 valued at $32,000 after purchasing an additional 343 shares during the last quarter. Versant Capital Management Inc acquired a new position in Timken during the second quarter valued at approximately $30,000. Livelsberger Financial Advisory acquired a new position in Timken during the fourth quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Timken during the second quarter valued at approximately $44,000. Institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Shares of NYSE TKR traded down $0.78 during midday trading on Monday, reaching $83.12. 287,744 shares of the company traded hands, compared to its average volume of 472,286. The firm has a market cap of $5.85 billion, a PE ratio of 15.83, a PEG ratio of 1.79 and a beta of 1.43. The stock’s 50-day simple moving average is $82.28 and its 200-day simple moving average is $84.31. The Timken Company has a 12 month low of $65.71 and a 12 month high of $94.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the business posted $2.01 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Timken Company will post 6.1 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 1.64%. Timken’s payout ratio is 25.90%.

Insider Buying and Selling

In other news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on TKR shares. Raymond James started coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating on the stock. DA Davidson restated a “buy” rating and issued a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Finally, 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 note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $89.18.

About Timken

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.