Castleark Management LLC Takes $10.96 Million Position in Timken Company (The) $TKR

Castleark Management LLC acquired a new position in Timken Company (The) (NYSE:TKR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 75,400 shares of the industrial products company’s stock, valued at approximately $10,957,000. Castleark Management LLC owned 0.11% of Timken at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TKR. Legal & General Group Plc purchased a new stake in shares of Timken during the second quarter worth $12,934,000. The Manufacturers Life Insurance Company purchased a new stake in Timken during the 2nd quarter worth about $75,977,000. Algert Global LLC purchased a new position in Timken during the 2nd quarter valued at about $1,905,000. Gallo Partners LP bought a new stake in shares of Timken during the second quarter valued at about $1,110,000. Finally, Tribune Investment Group LP purchased a new stake in shares of Timken in the second quarter worth about $6,034,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TKR has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of Timken from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Weiss Ratings upgraded Timken from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. Morgan Stanley set a $140.00 target price on Timken in a research report on Thursday, May 21st. Citigroup upped their target price on Timken from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Evercore reaffirmed an “outperform” rating and issued a $158.00 price target on shares of Timken in a report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Insiders Place Their Bets

In other Timken news, Director Ajita G. Rajendra sold 8,450 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $131.34, for a total value of $1,109,823.00. Following the completion of the sale, the director directly owned 20,225 shares of the company’s stock, valued at $2,656,351.50. The trade was a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard G. Kyle sold 13,637 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $126.63, for a total transaction of $1,726,853.31. Following the completion of the sale, the director directly owned 183,724 shares of the company’s stock, valued at $23,264,970.12. This represents a 6.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.10% of the stock is currently owned by corporate insiders.

Timken Trading Down 0.2%

NYSE TKR opened at $122.52 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 3.10 and a debt-to-equity ratio of 0.61. The stock’s 50-day simple moving average is $136.06 and its two-hundred day simple moving average is $119.93. Timken Company has a twelve month low of $70.57 and a twelve month high of $146.37. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.44 and a beta of 1.21.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Timken had a return on equity of 12.63% and a net margin of 5.43%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. Research analysts forecast that Timken Company will post 6.26 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 18th. Timken’s payout ratio is presently 39.02%.

Timken Company Profile

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.