Timken Company (The) (TKR) Insider Sells $459,789.50 in Stock

Timken Company (The) (NYSE:TKR) insider Richard G. Kyle sold 9,242 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the completion of the sale, the insider now owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Timken Company (NYSE:TKR) traded up $0.65 on Thursday, hitting $49.90. 1,013,264 shares of the company traded hands, compared to its average volume of 782,779. The company has a quick ratio of 1.38, a current ratio of 2.59 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3,791.60, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Timken Company has a fifty-two week low of $38.60 and a fifty-two week high of $53.10.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $771.40 million for the quarter, compared to the consensus estimate of $758.91 million. Timken had a net margin of 6.88% and a return on equity of 13.75%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. equities research analysts expect that Timken Company will post 2.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, November 16th. Timken’s dividend payout ratio is currently 43.03%.

Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Goldman Sachs Group downgraded shares of Timken from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $51.00 in a research note on Monday, August 7th. ValuEngine downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group reissued a “hold” rating and set a $50.00 price objective on shares of Timken in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $52.00.

A number of large investors have recently bought and sold shares of TKR. Vanguard Group Inc. raised its stake in Timken by 15.0% during the second quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock worth $325,981,000 after purchasing an additional 917,902 shares during the period. AJO LP purchased a new position in Timken during the second quarter worth approximately $38,485,000. Canada Pension Plan Investment Board raised its stake in Timken by 506.7% during the second quarter. Canada Pension Plan Investment Board now owns 531,500 shares of the industrial products company’s stock worth $24,582,000 after purchasing an additional 443,900 shares during the period. Koch Industries Inc. purchased a new position in Timken during the second quarter worth approximately $375,000. Finally, Renaissance Technologies LLC purchased a new position in Timken during the second quarter worth approximately $17,219,000. 79.27% of the stock is currently owned by institutional investors.

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Timken Company Profile

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.

Insider Buying and Selling by Quarter for Timken (NYSE:TKR)

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