Timken Company (The) (TKR) Announces $0.27 Quarterly Dividend
Timken Company (The) (NYSE:TKR) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Tuesday, August 22nd will be given a dividend of 0.27 per share by the industrial products company on Friday, September 1st. This represents a $1.08 dividend on an annualized basis and a yield of 2.42%.
Timken Company (The) has raised its dividend by an average of 4.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Timken Company (The) has a payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Timken Company (The) to earn $3.01 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 35.9%.
Timken Company (NYSE:TKR) traded up 0.89% during mid-day trading on Tuesday, reaching $45.10. 84,578 shares of the company were exchanged. The stock has a market capitalization of $3.51 billion, a P/E ratio of 22.38 and a beta of 1.38. Timken Company has a 12 month low of $31.60 and a 12 month high of $51.75. The company’s 50 day moving average price is $46.62 and its 200-day moving average price is $45.57.
Timken Company (The) (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The company had revenue of $750.60 million during the quarter, compared to analyst estimates of $716.50 million. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts expect that Timken Company will post $2.56 earnings per share for the current fiscal year.
In other news, EVP William R. Burkhart sold 32,580 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $47.94, for a total value of $1,561,885.20. Following the completion of the sale, the executive vice president now directly owns 55,640 shares of the company’s stock, valued at $2,667,381.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacqueline F. Woods sold 1,300 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $46.02, for a total transaction of $59,826.00. Following the completion of the sale, the director now directly owns 19,249 shares of the company’s stock, valued at $885,838.98. The disclosure for this sale can be found here. 11.08% of the stock is owned by corporate insiders.
TKR has been the subject of several research reports. BidaskClub lowered shares of Timken Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Saturday, April 29th. ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $53.00 price objective on shares of Timken Company (The) in a research report on Friday, June 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $45.00 price objective on shares of Timken Company (The) in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Timken Company (The) currently has an average rating of “Hold” and a consensus target price of $47.50.
About Timken Company (The)
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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