Comerica Bank cut its position in shares of Timken Company (The) (NYSE:TKR) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 72,873 shares of the industrial products company’s stock after selling 2,371 shares during the period. Comerica Bank owned 0.09% of Timken Company (The) worth $3,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TKR. BlackRock Inc. boosted its stake in Timken Company (The) by 5,786.0% in the first quarter. BlackRock Inc. now owns 5,674,424 shares of the industrial products company’s stock worth $256,485,000 after buying an additional 5,578,018 shares in the last quarter. Wellington Management Group LLP boosted its stake in Timken Company (The) by 38.4% in the first quarter. Wellington Management Group LLP now owns 2,211,031 shares of the industrial products company’s stock worth $99,939,000 after buying an additional 613,258 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Timken Company (The) by 428.7% in the first quarter. Victory Capital Management Inc. now owns 639,973 shares of the industrial products company’s stock worth $28,927,000 after buying an additional 518,933 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Timken Company (The) by 506.7% in 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 buying an additional 443,900 shares in the last quarter. Finally, Boston Partners boosted its stake in Timken Company (The) by 12.8% in the first quarter. Boston Partners now owns 2,901,889 shares of the industrial products company’s stock worth $131,165,000 after buying an additional 330,391 shares in the last quarter. Institutional investors own 79.62% of the company’s stock.

Timken Company (NYSE:TKR) opened at 45.10 on Thursday. The firm’s 50 day moving average price is $45.87 and its 200 day moving average price is $45.52. Timken Company has a one year low of $31.60 and a one year high of $51.75. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 22.38 and a beta of 1.38.

Timken Company (The) (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The firm had revenue of $750.60 million during the quarter, compared to the consensus estimate of $716.50 million. During the same period last year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Timken Company will post $2.57 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.39%. The ex-dividend date is Friday, August 18th. Timken Company (The)’s dividend payout ratio is currently 51.67%.

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A number of analysts have weighed in on TKR shares. Zacks Investment Research cut Timken Company (The) from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and issued a $45.00 price target on shares of Timken Company (The) in a research note on Friday, July 14th. ValuEngine raised Timken Company (The) from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub lowered Timken Company (The) from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 price objective on shares of Timken Company (The) in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.83.

About Timken Company (The)

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.

Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

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