Commerce Bank Boosts Holdings in The Timken Company (NYSE:TKR)

Commerce Bank increased its position in The Timken Company (NYSE:TKR) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,994 shares of the industrial products company’s stock after buying an additional 310 shares during the quarter. Commerce Bank’s holdings in Timken were worth $505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coastline Trust Co acquired a new stake in shares of Timken during the third quarter valued at about $29,000. Versant Capital Management Inc purchased a new position in Timken in the second quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its holdings in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Timken in the 3rd quarter valued at approximately $32,000. Finally, UMB Bank n.a. boosted 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 valued at $36,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Citigroup initiated coverage on Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Trading Down 1.5 %

NYSE:TKR opened at $76.55 on Wednesday. The firm has a market capitalization of $5.37 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.13 and a beta of 1.43. The business has a 50 day simple moving average of $81.39 and a 200 day simple moving average of $82.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $1.55 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

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

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.