LSV Asset Management Sells 33,300 Shares of The Timken Company (NYSE:TKR)

LSV Asset Management lessened its holdings in The Timken Company (NYSE:TKR) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583,392 shares of the industrial products company’s stock after selling 33,300 shares during the period. LSV Asset Management owned about 0.83% of Timken worth $46,747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Paralel Advisors LLC acquired a new stake in shares of Timken in the 2nd quarter valued at approximately $2,092,000. Foundry Partners LLC boosted its position in Timken by 5.4% in the second quarter. Foundry Partners LLC now owns 102,379 shares of the industrial products company’s stock valued at $8,204,000 after buying an additional 5,231 shares in the last quarter. Arizona State Retirement System boosted its position in Timken by 6.9% in the second quarter. Arizona State Retirement System now owns 18,651 shares of the industrial products company’s stock valued at $1,495,000 after buying an additional 1,201 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Timken by 18.4% during the second quarter. Natixis Advisors LLC now owns 29,402 shares of the industrial products company’s stock worth $2,356,000 after buying an additional 4,577 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Timken by 5.9% during the second quarter. D.A. Davidson & CO. now owns 51,182 shares of the industrial products company’s stock worth $4,101,000 after buying an additional 2,834 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken 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 of the company’s stock, valued at $19,671,263.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TKR has been the topic of a number of recent research reports. Raymond James assumed coverage on Timken in a research note on Friday, June 28th. They set a “market perform” rating on the stock. 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 report on Monday, August 19th. Finally, KeyCorp upped their price target on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus price target of $88.18.

Timken Stock Performance

Shares of Timken stock opened at $78.82 on Tuesday. The business has a 50-day moving average price of $82.39 and a two-hundred day moving average price of $84.68. The Timken Company has a 1-year low of $65.71 and a 1-year high of $94.71. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.53 billion, a P/E ratio of 15.01, a PEG ratio of 1.68 and a beta of 1.44.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. As a group, analysts anticipate that The Timken Company will post 6.13 EPS for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.73%. Timken’s payout ratio is presently 25.90%.

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.