The Timken Company Plans Quarterly Dividend of $0.33 (NYSE:TKR)

The Timken Company (NYSE:TKRGet Free Report) announced a quarterly dividend on Thursday, February 8th, Zacks reports. Investors of record on Tuesday, February 20th will be given a dividend of 0.33 per share by the industrial products company on Wednesday, March 6th. This represents a $1.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, February 16th.

Timken has raised its dividend payment by an average of 4.8% annually over the last three years and has increased its dividend every year for the last 4 years. Timken has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Timken to earn $7.03 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 18.8%.

Timken Trading Up 2.3 %

NYSE:TKR opened at $82.56 on Friday. The company has a fifty day moving average of $79.26 and a 200 day moving average of $76.41. Timken has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a quick ratio of 0.93, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.82 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.12 and a beta of 1.55.

Timken (NYSE:TKRGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $1.22 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, research analysts predict that Timken will post 6.02 earnings per share for the current year.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $74.03, for a total value of $370,150.00. Following the sale, the chief financial officer now directly owns 88,868 shares of the company’s stock, valued at $6,578,898.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Timken

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Timken by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,450,013 shares of the industrial products company’s stock valued at $380,808,000 after purchasing an additional 29,889 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Timken by 2.0% during the first quarter. BlackRock Inc. now owns 5,773,011 shares of the industrial products company’s stock valued at $350,420,000 after purchasing an additional 112,617 shares in the last quarter. State Street Corp lifted its holdings in shares of Timken by 0.5% during the first quarter. State Street Corp now owns 1,922,811 shares of the industrial products company’s stock valued at $157,132,000 after purchasing an additional 9,303 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Timken by 54.9% during the first quarter. Invesco Ltd. now owns 1,588,490 shares of the industrial products company’s stock valued at $96,421,000 after purchasing an additional 562,930 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Timken by 3.3% during the first quarter. Geode Capital Management LLC now owns 908,046 shares of the industrial products company’s stock valued at $74,206,000 after purchasing an additional 29,003 shares in the last quarter. 84.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. KeyCorp lowered their price target on shares of Timken from $102.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, November 6th. Morgan Stanley assumed coverage on shares of Timken in a research report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price objective on the stock. Jefferies Financial Group downgraded shares of Timken from a “buy” rating to a “hold” rating and reduced their price objective for the company from $105.00 to $85.00 in a research report on Wednesday, December 20th. StockNews.com raised shares of Timken from a “hold” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, DA Davidson assumed coverage on shares of Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.50.

Read Our Latest Stock Analysis on TKR

Timken Company Profile

(Get Free Report)

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; thrust and specialty ball bearings; and housed or mounted bearings.

See Also

Dividend History for Timken (NYSE:TKR)

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