Timken Director Jacqueline F. Woods Sells 1,340 Shares (TKR)
Timken (NYSE:TKR) Director Jacqueline F. Woods sold 1,340 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $45.43, for a total transaction of $60,876.20. Following the sale, the director now directly owns 17,137 shares in the company, valued at approximately $778,534. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Timken (NYSE:TKR) traded down 0.07% on Friday, hitting $45.3399. The stock had a trading volume of 351,631 shares. Timken has a 1-year low of $35.9485 and a 1-year high of $49.96. The stock has a 50-day moving average of $46.58 and a 200-day moving average of $45.04. The company has a market cap of $4.116 billion and a P/E ratio of 16.90. Timken also saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 2,555,173 shares, a growth of 56.9% from the July 31st total of 1,628,507 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 1,197,591 shares, the days-to-cover ratio is presently 2.1 days.
Timken (NYSE:TKR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.67 by $0.02. The company had revenue of $789.00 million for the quarter, compared to the consensus estimate of $800.10 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was down 30.0% on a year-over-year basis. On average, analysts predict that Timken will post $2.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, August 15th.
TKR has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Timken from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $47.10 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Timken from $75.00 to $60.00 in a research note on Monday, July 7th. Finally, analysts at BB&T Corp. cut their price target on shares of Timken from $78.00 to $57.00 in a research note on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Timken presently has a consensus rating of “Hold” and a consensus target price of $61.39.
The Timken Company (NYSE:TKR)develops, manufactures, markets and sells products for friction management and mechanical power transmission, alloy steels and steel components.
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