Verdence Capital Advisors LLC Buys 168 Shares of The Timken Company (NYSE:TKR)

Verdence Capital Advisors LLC grew its stake in The Timken Company (NYSE:TKR) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,539 shares of the industrial products company’s stock after purchasing an additional 168 shares during the period. Verdence Capital Advisors LLC’s holdings in Timken were worth $383,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Creative Planning increased its position in Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 150 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Timken by 3.4% in the first 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 last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Timken by 20.0% in the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after buying an additional 166 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TKR shares. DA Davidson reduced their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer reduced their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective for the company. Evercore ISI reduced their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, KeyCorp lowered their price target on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.60.

Timken Price Performance

TKR opened at $76.52 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. The firm has a market capitalization of $5.37 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. The business’s 50-day moving average is $82.25 and its two-hundred day moving average is $83.67. The Timken Company has a 1 year low of $70.15 and a 1 year high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. Research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio is presently 28.27%.

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.