Choreo LLC Invests $328,000 in The Timken Company (NYSE:TKR)

Choreo LLC purchased a new stake in The Timken Company (NYSE:TKR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,146 shares of the industrial products company’s stock, valued at approximately $328,000.

Several other hedge funds have also added to or reduced their stakes in TKR. Paralel Advisors LLC bought a new position in shares of Timken in the second quarter valued at about $2,092,000. Foundry Partners LLC raised its holdings in Timken by 5.4% in the 2nd quarter. Foundry Partners LLC now owns 102,379 shares of the industrial products company’s stock valued at $8,204,000 after acquiring an additional 5,231 shares during the period. Arizona State Retirement System lifted its position in Timken by 6.9% during the second quarter. Arizona State Retirement System now owns 18,651 shares of the industrial products company’s stock worth $1,495,000 after acquiring an additional 1,201 shares during the last quarter. Natixis Advisors LLC boosted its holdings 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 acquiring an additional 4,577 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of Timken by 5.9% in the second quarter. D.A. Davidson & CO. now owns 51,182 shares of the industrial products company’s stock valued at $4,101,000 after purchasing an additional 2,834 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In other Timken 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 transaction of $2,413,800.00. Following the sale, the chief executive officer now 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 accessible through this link. 8.70% of the stock is owned by insiders.

Timken Stock Up 1.2 %

Shares of TKR opened at $81.58 on Wednesday. The firm has a 50 day simple moving average of $82.37 and a two-hundred day simple moving average of $84.56. 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 one year low of $65.71 and a one year high of $94.71. The company has a market cap of $5.74 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.69 and a beta of 1.44.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share 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 the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $2.01 EPS. Timken’s revenue for the quarter was down 7.1% on a year-over-year basis. Research analysts forecast that The Timken Company will post 6.13 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed 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. This represents a $1.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is 25.90%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TKR shares. DA Davidson reissued a “buy” rating and set a $103.00 price target on shares of Timken in a report on Tuesday. Raymond James started coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating for the company. Evercore ISI decreased their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, KeyCorp raised their price target on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Timken presently has an average rating of “Hold” and an average target price of $89.18.

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.