Earnest Partners LLC Raises Position in The Timken Company (NYSE:TKR)

Earnest Partners LLC lifted its stake in shares of The Timken Company (NYSE:TKR) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,322,312 shares of the industrial products company’s stock after acquiring an additional 26,671 shares during the quarter. Earnest Partners LLC owned 1.88% of Timken worth $105,957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TKR. Envestnet Portfolio Solutions Inc. increased its holdings in Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 155 shares during the period. Manchester Capital Management LLC increased its stake in shares of Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after buying an additional 205 shares during the period. William Blair Investment Management LLC raised its holdings in Timken by 3.7% in the first quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 213 shares in the last quarter. Kessler Investment Group LLC lifted its stake in Timken by 5.7% in the second quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 234 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in Timken by 1.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,392 shares of the industrial products company’s stock worth $1,634,000 after acquiring an additional 237 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James started coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. DA Davidson reaffirmed a “buy” rating and set a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Finally, Evercore ISI lowered their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Timken presently has a consensus rating of “Hold” and an average price target of $89.18.

Timken Trading Down 2.1 %

NYSE:TKR opened at $82.14 on Thursday. The company has a market capitalization of $5.76 billion, a PE ratio of 15.65, a P/E/G ratio of 1.79 and a beta of 1.44. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. The stock’s 50 day moving average price is $82.28 and its 200 day moving average price is $84.45. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $2.01 EPS. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, research analysts anticipate that The Timken Company will post 6.11 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given 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 yield of 1.66%. Timken’s payout ratio is 25.90%.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $19,671,263.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.70% of the company’s stock.

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.