Keybank National Association OH Boosts Stock Position in Timken Company (The) $TKR

Keybank National Association OH raised its stake in Timken Company (The) (NYSE:TKR) by 107.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 727,777 shares of the industrial products company’s stock after acquiring an additional 377,607 shares during the period. Keybank National Association OH’s holdings in Timken were worth $54,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Timken by 13.4% during the second quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock worth $278,968,000 after purchasing an additional 455,050 shares during the period. Bank of New York Mellon Corp raised its position in Timken by 34.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,493,167 shares of the industrial products company’s stock worth $112,256,000 after buying an additional 385,389 shares during the last quarter. Cooke & Bieler LP raised its position in Timken by 28.6% during the 3rd quarter. Cooke & Bieler LP now owns 1,423,361 shares of the industrial products company’s stock worth $107,008,000 after buying an additional 316,380 shares during the last quarter. Channing Capital Management LLC lifted its stake in shares of Timken by 4.2% in the 2nd quarter. Channing Capital Management LLC now owns 1,128,658 shares of the industrial products company’s stock worth $81,884,000 after acquiring an additional 44,992 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Timken by 3.6% in the second quarter. Brown Advisory Inc. now owns 901,988 shares of the industrial products company’s stock valued at $65,439,000 after acquiring an additional 31,495 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Down 1.1%

TKR opened at $93.10 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.71 and a current ratio of 3.11. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.84 and a beta of 1.21. Timken Company has a one year low of $56.20 and a one year high of $95.19. The business’s fifty day moving average is $87.48 and its two-hundred day moving average is $80.53.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 6.54% and a return on equity of 11.88%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 EPS. Analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 25th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, November 25th. Timken’s payout ratio is currently 33.10%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a report on Wednesday, January 21st. DA Davidson boosted their target price on Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $88.00 target price on shares of Timken in a research note on Thursday, October 30th. Citigroup raised their price target on Timken from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Wall Street Zen upgraded Timken from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.30.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 15,837 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total transaction of $1,283,272.11. Following the sale, the director owned 266,942 shares in the company, valued at approximately $21,630,310.26. This represents a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

About Timken

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.