State of Alaska Department of Revenue Buys 500 Shares of The Timken Company (NYSE:TKR)

State of Alaska Department of Revenue raised its stake in The Timken Company (NYSE:TKR) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,163 shares of the industrial products company’s stock after purchasing an additional 500 shares during the quarter. State of Alaska Department of Revenue’s holdings in Timken were worth $2,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after acquiring an additional 347,794 shares during the last quarter. Interval Partners LP bought a new position in shares of Timken during the 1st quarter valued at about $22,907,000. American Century Companies Inc. raised its holdings in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after buying an additional 128,791 shares in the last quarter. Kodai Capital Management LP bought a new stake in Timken in the 1st quarter worth approximately $9,130,000. Finally, Dimensional Fund Advisors LP boosted its stake in Timken by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after buying an additional 97,550 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TKR shares. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a research note on Tuesday, September 17th. Finally, Evercore ISI cut their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Timken has an average rating of “Hold” and an average price target of $91.70.

Timken Stock Down 1.5 %

NYSE TKR opened at $83.00 on Friday. The business’s 50-day moving average is $83.04 and its 200 day moving average is $84.02. The stock has a market capitalization of $5.82 billion, a PE ratio of 17.01, a PEG ratio of 1.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 earnings per share. Sell-side analysts forecast that The Timken Company will post 6.05 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a $0.34 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.64%. Timken’s dividend payout ratio is 27.87%.

Insider Activity

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $80.76, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 274,485 shares of the company’s stock, valued at $22,167,408.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.70% of the company’s stock.

About Timken

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.