Zweig DiMenna Associates LLC lessened its stake in shares of Timken Company (The) (NYSE:TKR) by 5.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,407 shares of the industrial products company’s stock after selling 5,800 shares during the period. Zweig DiMenna Associates LLC owned about 0.12% of Timken Company (The) worth $4,535,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Timken Company (The) by 6.5% during the third quarter. Sei Investments Co. now owns 269,391 shares of the industrial products company’s stock valued at $13,079,000 after acquiring an additional 16,547 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of Timken Company (The) during the third quarter valued at approximately $225,000. Alps Advisors Inc. increased its holdings in Timken Company (The) by 73.7% during the third quarter. Alps Advisors Inc. now owns 26,505 shares of the industrial products company’s stock valued at $1,287,000 after buying an additional 11,249 shares during the period. Swiss National Bank increased its holdings in Timken Company (The) by 1.3% during the third quarter. Swiss National Bank now owns 117,400 shares of the industrial products company’s stock valued at $5,700,000 after buying an additional 1,500 shares during the period. Finally, Scout Investments Inc. increased its holdings in Timken Company (The) by 5.1% during the third quarter. Scout Investments Inc. now owns 360,241 shares of the industrial products company’s stock valued at $17,490,000 after buying an additional 17,375 shares during the period. 77.49% of the stock is owned by hedge funds and other institutional investors.

Timken Company (NYSE:TKR) traded up $0.45 during midday trading on Monday, reaching $46.65. 489,700 shares of the company’s stock traded hands, compared to its average volume of 794,289. The company has a quick ratio of 1.38, a current ratio of 2.59 and a debt-to-equity ratio of 0.66. Timken Company has a fifty-two week low of $37.80 and a fifty-two week high of $53.10. The stock has a market capitalization of $3,620.84, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.54 and a beta of 1.46.

Timken Company (The) (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. The business had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. During the same period in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. analysts forecast that Timken Company will post 2.62 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 16th. Timken Company (The)’s dividend payout ratio is currently 43.03%.

Several equities analysts recently issued reports on the stock. BidaskClub lowered shares of Timken Company (The) from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Thursday, September 28th. ValuEngine raised shares of Timken Company (The) from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and set a $50.00 price objective on shares of Timken Company (The) in a report on Thursday, October 26th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $55.00 to $51.00 in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $49.60.

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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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