The Timken Company (NYSE:TKR) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in The Timken Company (NYSE:TKR) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,719 shares of the industrial products company’s stock after selling 3,533 shares during the period. Wedge Capital Management L L P NC owned 0.26% of Timken worth $12,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TKR. Coastline Trust Co purchased a new position in Timken during the 3rd quarter worth $29,000. Livelsberger Financial Advisory purchased a new position in Timken during the third quarter worth about $32,000. UMB Bank n.a. lifted its position in Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Timken in the 2nd quarter valued at approximately $44,000. Finally, Brooklyn Investment Group acquired a new position in Timken during the 3rd quarter worth approximately $74,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TKR has been the topic of a number of analyst reports. DA Davidson decreased their price target on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer decreased their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and increased their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.40.

Timken Stock Performance

Timken stock opened at $76.81 on Friday. 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 Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The stock has a fifty day moving average of $74.64 and a two-hundred day moving average of $79.80. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.95 and a beta of 1.39.

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

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.77%. Timken’s payout ratio is currently 28.27%.

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.70% of the stock is currently owned by company insiders.

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.