Texas Permanent School Fund Corp increased its position in The Timken Company (NYSE:TKR – Free Report) by 33.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,366 shares of the industrial products company’s stock after acquiring an additional 14,862 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Timken worth $4,851,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of TKR. CoreCap Advisors LLC bought a new stake in Timken during the fourth quarter valued at approximately $31,000. Denali Advisors LLC lifted its position in Timken by 769.2% during the fourth quarter. Denali Advisors LLC now owns 452 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 400 shares during the last quarter. CWM LLC lifted its position in Timken by 39.8% during the fourth quarter. CWM LLC now owns 481 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 137 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Timken during the fourth quarter valued at approximately $34,000. Finally, Money Concepts Capital Corp bought a new stake in Timken during the fourth quarter valued at approximately $35,000. 91.25% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have commented on TKR shares. StockNews.com raised shares of Timken from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. Citigroup downgraded shares of Timken from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $95.00 to $100.00 in a research note on Monday, July 17th. Bank of America downgraded shares of Timken from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $88.00 to $100.00 in a research note on Friday. Oppenheimer lifted their price target on shares of Timken from $90.00 to $97.00 in a research note on Monday, June 26th. Finally, Evercore ISI decreased their price target on shares of Timken from $89.00 to $83.00 in a research note on Tuesday, May 9th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and an average price target of $93.22.
Insider Activity
Timken Stock Down 1.7 %
Shares of Timken stock opened at $91.50 on Monday. The company has a current ratio of 2.76, a quick ratio of 1.47 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $84.26 and its two-hundred day simple moving average is $81.32. The company has a market cap of $6.62 billion, a P/E ratio of 16.37, a PEG ratio of 1.04 and a beta of 1.59. The Timken Company has a 12-month low of $58.35 and a 12-month high of $95.08.
Timken (NYSE:TKR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.24. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Timken had a net margin of 8.88% and a return on equity of 20.72%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. Research analysts anticipate that The Timken Company will post 7.33 EPS for the current year.
Timken Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Monday, May 15th. This is a boost from Timken’s previous quarterly dividend of $0.31. Timken’s payout ratio is 23.61%.
Timken Profile
The Timken Company designs, manufactures, and manages engineered bearings and industrial motion products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as industrial motion components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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