Keybank National Association OH increased its position in shares of Timken Company (The) (NYSE:TKR) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,211 shares of the industrial products company’s stock after buying an additional 15,920 shares during the period. Keybank National Association OH owned approximately 0.35% of Timken Company (The) worth $12,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chicago Equity Partners LLC acquired a new stake in Timken Company (The) during the first quarter worth $1,802,000. Tyers Asset Management LLC boosted its stake in Timken Company (The) by 301.7% in the first quarter. Tyers Asset Management LLC now owns 13,160 shares of the industrial products company’s stock worth $595,000 after buying an additional 9,884 shares during the last quarter. State Treasurer State of Michigan boosted its stake in Timken Company (The) by 0.7% in the first quarter. State Treasurer State of Michigan now owns 28,400 shares of the industrial products company’s stock worth $1,284,000 after buying an additional 200 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Timken Company (The) by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 41,350 shares of the industrial products company’s stock worth $1,868,000 after buying an additional 1,822 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Timken Company (The) by 65.0% in the first quarter. Canada Pension Plan Investment Board now owns 87,600 shares of the industrial products company’s stock worth $3,960,000 after buying an additional 34,500 shares during the last quarter. 79.62% of the stock is owned by institutional investors and hedge funds.

Shares of Timken Company (NYSE:TKR) opened at 44.20 on Wednesday. The company has a market capitalization of $3.44 billion, a PE ratio of 21.94 and a beta of 1.38. The firm’s 50-day moving average is $45.87 and its 200 day moving average is $45.52. Timken Company has a 52 week low of $31.60 and a 52 week high of $51.75.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, August 18th. Timken Company (The)’s dividend payout ratio is currently 51.67%.

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

Timken Company (The) Company Profile

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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