Mackay Shields LLC increased its position in shares of Timken Co (NYSE:TKR) by 43.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,801 shares of the industrial products company’s stock after acquiring an additional 53,973 shares during the period. Mackay Shields LLC owned approximately 0.24% of Timken worth $7,779,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Timken by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,465,944 shares of the industrial products company’s stock valued at $331,961,000 after purchasing an additional 35,795 shares during the period. BlackRock Inc. lifted its holdings in shares of Timken by 1.0% during the 2nd quarter. BlackRock Inc. now owns 6,294,669 shares of the industrial products company’s stock valued at $323,168,000 after buying an additional 64,489 shares during the last quarter. Boston Partners lifted its holdings in shares of Timken by 5.3% during the 2nd quarter. Boston Partners now owns 2,328,332 shares of the industrial products company’s stock valued at $119,344,000 after buying an additional 117,943 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Timken by 0.8% during the 2nd quarter. Earnest Partners LLC now owns 1,951,019 shares of the industrial products company’s stock valued at $100,165,000 after buying an additional 14,670 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Timken by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,506,293 shares of the industrial products company’s stock valued at $65,539,000 after buying an additional 65,205 shares during the last quarter. 78.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TKR stock traded up $0.19 during trading on Friday, reaching $53.67. The company had a trading volume of 7,573 shares, compared to its average volume of 628,097. The firm’s 50 day simple moving average is $45.31 and its two-hundred day simple moving average is $45.81. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.57 and a quick ratio of 1.42. Timken Co has a one year low of $33.98 and a one year high of $54.52. The company has a market capitalization of $3.97 billion, a PE ratio of 12.81, a PEG ratio of 1.38 and a beta of 1.81.
Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.04). Timken had a net margin of 8.11% and a return on equity of 21.12%. The company had revenue of $914.00 million during the quarter, compared to the consensus estimate of $945.87 million. During the same period in the previous year, the business posted $1.06 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts forecast that Timken Co will post 4.72 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. Goldman Sachs Group upgraded Timken from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $56.00 in a report on Tuesday, July 16th. ValuEngine upgraded Timken from a “strong sell” rating to a “sell” rating in a report on Thursday, October 31st. Morgan Stanley set a $52.00 price target on Timken and gave the company a “hold” rating in a report on Friday, November 1st. Zacks Investment Research lowered Timken from a “hold” rating to a “strong sell” rating and set a $56.00 price target for the company. in a report on Tuesday. Finally, Bank of America lowered Timken from a “neutral” rating to an “underperform” rating and set a $41.00 price target for the company. in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.25.
In other Timken news, EVP Christopher A. Coughlin sold 46,813 shares of Timken stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $53.00, for a total value of $2,481,089.00. Following the transaction, the executive vice president now directly owns 115,539 shares of the company’s stock, valued at approximately $6,123,567. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Shelly Marie Chadwick purchased 1,183 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $52.73 per share, for a total transaction of $62,379.59. 11.58% of the stock is currently owned by company insiders.
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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