The Timken Company (NYSE:TKR) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama increased its position in shares of The Timken Company (NYSE:TKR) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,643 shares of the industrial products company’s stock after buying an additional 1,869 shares during the quarter. Retirement Systems of Alabama owned about 0.25% of Timken worth $14,889,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Timken in the 2nd quarter valued at $233,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Timken by 6.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,968 shares of the industrial products company’s stock valued at $398,000 after buying an additional 307 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Timken during the second quarter worth about $191,000. Tributary Capital Management LLC grew its holdings in shares of Timken by 72.8% during the second quarter. Tributary Capital Management LLC now owns 7,240 shares of the industrial products company’s stock worth $580,000 after buying an additional 3,050 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Timken in the 2nd quarter valued at about $833,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TKR shares. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $90.00 in a research note on Monday, December 9th. DA Davidson dropped their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s 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 completion of the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Stock Performance

TKR opened at $75.50 on Monday. The stock’s 50 day simple moving average is $79.64 and its 200 day simple moving average is $81.45. The stock has a market cap of $5.29 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.12 and a beta of 1.38. The Timken Company has a 1-year low of $72.35 and a 1-year high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $1.13 billion during 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 company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. As a group, equities analysts anticipate that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.80%. Timken’s dividend payout ratio is currently 28.27%.

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.