The Timken Company (NYSE:TKR) Stake Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of The Timken Company (NYSE:TKR) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,722 shares of the industrial products company’s stock after selling 28,411 shares during the period. Massachusetts Financial Services Co. MA owned about 0.88% of Timken worth $52,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Coastline Trust Co purchased a new stake in shares of Timken during the 3rd quarter worth about $29,000. Versant Capital Management Inc bought a new position in Timken during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Timken in the third quarter worth approximately $32,000. Finally, UMB Bank n.a. increased its stake in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TKR. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Citigroup started coverage on Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Oppenheimer cut their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Timken currently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Stock Up 1.0 %

NYSE TKR opened at $75.96 on Monday. The stock has a market capitalization of $5.33 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The Timken Company has a 52 week low of $71.57 and a 52 week high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The stock has a fifty day moving average of $81.45 and a 200-day moving average of $82.80.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio is presently 28.27%.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

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.