Arkadios Wealth Advisors Reduces Holdings in The Timken Company (NYSE:TKR)

Arkadios Wealth Advisors decreased its position in shares of The Timken Company (NYSE:TKR) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,850 shares of the industrial products company’s stock after selling 543 shares during the period. Arkadios Wealth Advisors’ holdings in Timken were worth $830,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. grew its holdings in Timken by 1.0% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after acquiring an additional 155 shares in the last quarter. Riverwater Partners LLC acquired a new position in Timken during the 3rd quarter valued at about $202,000. International Assets Investment Management LLC raised its position in shares of Timken by 8,327.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,854 shares of the industrial products company’s stock worth $156,000 after buying an additional 1,832 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Timken by 72.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,705 shares of the industrial products company’s stock worth $481,000 after buying an additional 2,405 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Timken during the 3rd quarter worth about $32,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on TKR. Evercore ISI dropped their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Citigroup started coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $103.00 price objective on shares of Timken in a research report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Timken has a consensus rating of “Hold” and an average price target of $91.70.

Insider Transactions at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Timken Stock Performance

TKR stock opened at $85.91 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.92 and a beta of 1.43. The Timken Company has a 12 month low of $65.71 and a 12 month high of $94.71. The firm has a 50 day moving average of $82.96 and a two-hundred day moving average of $84.03.

Timken (NYSE:TKR) last issued its quarterly earnings data 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 business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company earned $2.01 earnings per share. Timken’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, equities analysts anticipate that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, August 20th. Timken’s payout ratio is 27.87%.

Timken Company 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.