Victory Capital Management Inc. Decreases Stock Position in The Timken Company (NYSE:TKR)

Victory Capital Management Inc. decreased its position in shares of The Timken Company (NYSE:TKR) by 14.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 187,327 shares of the industrial products company’s stock after selling 30,999 shares during the period. Victory Capital Management Inc.’s holdings in Timken were worth $15,011,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TKR. Private Advisor Group LLC bought a new stake in shares of Timken in the 4th quarter worth about $524,000. Charles Schwab Investment Management Inc. grew its position in shares of Timken by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 625,592 shares of the industrial products company’s stock worth $50,141,000 after acquiring an additional 11,057 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Timken in the 4th quarter valued at approximately $137,000. BNP Paribas Financial Markets increased its holdings in shares of Timken by 154.9% in the 4th quarter. BNP Paribas Financial Markets now owns 7,934 shares of the industrial products company’s stock valued at $636,000 after acquiring an additional 4,822 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Timken during the 4th quarter valued at approximately $208,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TKR. Evercore ISI dropped their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Raymond James started coverage on Timken in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, KeyCorp raised their price target on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus price target of $88.18.

Insider Activity at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is owned by insiders.

Timken Stock Performance

Shares of TKR opened at $79.77 on Friday. The Timken Company has a 12-month low of $65.71 and a 12-month high of $94.71. The stock has a market capitalization of $5.60 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.69 and a beta of 1.44. The firm’s 50 day moving average is $82.35 and its 200-day moving average is $84.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. Timken’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities research analysts anticipate that The Timken Company will post 6.13 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. Timken’s dividend payout ratio is 25.90%.

Timken Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.