Mondrian Investment Partners LTD lowered its stake in shares of Timken Company (The) (NYSE:TKR) by 7.3% during the second quarter, Holdings Channel reports. The fund owned 80,963 shares of the industrial products company’s stock after selling 6,329 shares during the period. Mondrian Investment Partners LTD’s holdings in Timken Company (The) were worth $3,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TKR. Capstone Asset Management Co. raised its stake in Timken Company (The) by 5.2% in the first quarter. Capstone Asset Management Co. now owns 5,475 shares of the industrial products company’s stock valued at $247,000 after buying an additional 270 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Timken Company (The) by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the industrial products company’s stock valued at $796,000 after buying an additional 300 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Timken Company (The) during the first quarter valued at $388,000. Columbus Circle Investors raised its stake in Timken Company (The) by 102.7% in the first quarter. Columbus Circle Investors now owns 451,777 shares of the industrial products company’s stock valued at $20,420,000 after buying an additional 228,942 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Timken Company (The) by 11.5% in the first quarter. Retirement Systems of Alabama now owns 143,899 shares of the industrial products company’s stock valued at $6,504,000 after buying an additional 14,855 shares during the last quarter. Institutional investors own 76.94% of the company’s stock.

Shares of Timken Company (TKR) opened at 43.65 on Friday. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 21.66 and a beta of 1.38. The firm has a 50-day moving average price of $46.35 and a 200-day moving average price of $45.59. Timken Company has a 1-year low of $31.60 and a 1-year high of $51.75.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be issued a $0.27 dividend. The ex-dividend date is Friday, August 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.47%. Timken Company (The)’s dividend payout ratio is presently 51.67%.

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TKR has been the topic of several recent research reports. Jefferies Group LLC restated a “hold” rating and set a $45.00 price target on shares of Timken Company (The) in a report on Tuesday, April 18th. Zacks Investment Research lowered Timken Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Stifel Nicolaus increased their price target on Timken Company (The) from $46.00 to $53.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub lowered Timken Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Timken Company (The) presently has a consensus rating of “Hold” and an average price target of $46.83.

In related news, Director Jacqueline F. Woods sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $46.02, for a total value of $59,826.00. Following the sale, the director now owns 19,249 shares in the company, valued at approximately $885,838.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.08% of the stock is currently owned by insiders.

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.

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

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