Ameritas Investment Partners Inc. Decreases Stock Holdings in The Timken Company (NYSE:TKR)

Ameritas Investment Partners Inc. lowered its stake in The Timken Company (NYSE:TKR) by 2.1% during the second quarter, Holdings Channel.com reports. The fund owned 25,278 shares of the industrial products company’s stock after selling 553 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Timken were worth $2,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its position in shares of Timken by 3.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 155 shares during the period. Manchester Capital Management LLC boosted its holdings in Timken by 51.3% in the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after buying an additional 205 shares during the last quarter. William Blair Investment Management LLC increased its stake in Timken by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock worth $515,000 after buying an additional 213 shares in the last quarter. Kessler Investment Group LLC raised its holdings in shares of Timken by 5.7% during the second quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 234 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Timken by 1.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,392 shares of the industrial products company’s stock valued at $1,634,000 after acquiring an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. DA Davidson reiterated a “buy” rating and issued a $103.00 target price on shares of Timken in a research report on Tuesday, September 17th. Finally, Raymond James assumed coverage on shares of Timken in a research report on Friday, June 28th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $89.18.

Timken Stock Down 1.9 %

Shares of NYSE TKR opened at $82.59 on Friday. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71. The company has a market capitalization of $5.82 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.73 and a beta of 1.44. The company has a 50 day simple moving average of $82.48 and a 200-day simple moving average of $84.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64.

Timken (NYSE:TKR) last posted 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 for 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 company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 earnings per share. On average, equities research analysts predict that The Timken Company will post 6.11 earnings per share for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) 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.