Stevens Capital Management LP Has $1.04 Million Position in Timken Co (TKR)
Stevens Capital Management LP decreased its holdings in Timken Co (NYSE:TKR) by 40.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,927 shares of the industrial products company’s stock after selling 14,384 shares during the quarter. Stevens Capital Management LP’s holdings in Timken were worth $1,043,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Timken by 0.4% during the 3rd quarter. BlackRock Inc. now owns 6,053,330 shares of the industrial products company’s stock worth $301,759,000 after buying an additional 22,720 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Timken by 9.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,962,212 shares of the industrial products company’s stock worth $97,817,000 after buying an additional 173,964 shares in the last quarter. Boston Partners increased its stake in Timken by 2.6% during the 2nd quarter. Boston Partners now owns 1,944,278 shares of the industrial products company’s stock worth $84,673,000 after buying an additional 48,733 shares in the last quarter. LSV Asset Management grew its position in shares of Timken by 7.7% in the third quarter. LSV Asset Management now owns 1,653,575 shares of the industrial products company’s stock valued at $82,430,000 after purchasing an additional 117,700 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Timken by 23.3% in the third quarter. Victory Capital Management Inc. now owns 1,384,005 shares of the industrial products company’s stock valued at $68,993,000 after purchasing an additional 261,313 shares in the last quarter. 78.88% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on TKR shares. Goldman Sachs Group started coverage on Timken in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $56.00 price target for the company. ValuEngine lowered Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, October 12th. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Saturday, October 13th. Finally, Bank of America upgraded Timken from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.00 to $50.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Timken has a consensus rating of “Buy” and an average target price of $54.40.
TKR stock opened at $38.74 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.72 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $3.05 billion, a PE ratio of 14.73, a P/E/G ratio of 0.63 and a beta of 1.88. Timken Co has a 1 year low of $34.90 and a 1 year high of $55.65.
Timken (NYSE:TKR) last posted its quarterly earnings results on Monday, October 29th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The company had revenue of $881.30 million during the quarter, compared to analysts’ expectations of $912.58 million. Timken had a net margin of 7.89% and a return on equity of 19.58%. Timken’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. Equities research analysts predict that Timken Co will post 4.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Tuesday, November 20th were given a $0.28 dividend. The ex-dividend date was Monday, November 19th. This represents a $1.12 annualized dividend and a yield of 2.89%. Timken’s payout ratio is 42.59%.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and 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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