Timken Co (NYSE:TKR) – Jefferies Group increased their FY2018 earnings estimates for Timken in a report issued on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $3.45 per share for the year, up from their previous estimate of $3.15. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Timken’s FY2019 earnings at $3.95 EPS.
Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The business had revenue of $771.40 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share.
Shares of Timken (NYSE TKR) opened at $55.25 on Monday. The company has a market cap of $4,288.35, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.51 and a beta of 1.50. Timken has a 1 year low of $41.78 and a 1 year high of $55.35. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.
Several institutional investors and hedge funds have recently bought and sold shares of TKR. Wells Fargo & Company MN increased its holdings in Timken by 9.5% in the 2nd quarter. Wells Fargo & Company MN now owns 401,210 shares of the industrial products company’s stock worth $18,556,000 after buying an additional 34,695 shares during the period. Ameriprise Financial Inc. increased its holdings in Timken by 4.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 268,963 shares of the industrial products company’s stock worth $12,440,000 after buying an additional 12,292 shares during the period. Nationwide Fund Advisors increased its holdings in Timken by 2.1% in the 2nd quarter. Nationwide Fund Advisors now owns 118,991 shares of the industrial products company’s stock worth $5,503,000 after buying an additional 2,437 shares during the period. BlackRock Inc. increased its holdings in Timken by 1.3% in the 2nd quarter. BlackRock Inc. now owns 5,746,878 shares of the industrial products company’s stock worth $265,793,000 after buying an additional 72,454 shares during the period. Finally, Amalgamated Bank increased its holdings in Timken by 21.8% in the 2nd quarter. Amalgamated Bank now owns 13,571 shares of the industrial products company’s stock worth $628,000 after buying an additional 2,431 shares during the period. Hedge funds and other institutional investors own 78.92% of the company’s stock.
In other news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the transaction, the insider now owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.08% of the company’s stock.
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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.
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