Sei Investments Co. Has $35.04 Million Holdings in The Timken Company (NYSE:TKR)

Sei Investments Co. raised its stake in shares of The Timken Company (NYSE:TKR) by 11.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 437,339 shares of the industrial products company’s stock after purchasing an additional 43,169 shares during the period. Sei Investments Co.’s holdings in Timken were worth $35,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Timken during the fourth quarter worth about $56,995,000. Fiduciary Management Inc. WI grew its holdings in shares of Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after acquiring an additional 551,097 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after acquiring an additional 347,794 shares during the last quarter. Interval Partners LP bought a new stake in Timken during the first quarter worth $22,907,000. Finally, Westwood Holdings Group Inc. boosted its position in Timken by 6,368.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 193,790 shares of the industrial products company’s stock worth $15,532,000 after purchasing an additional 190,794 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Timken Stock Performance

NYSE:TKR opened at $83.24 on Tuesday. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. The business’s fifty day moving average is $82.46 and its 200 day moving average is $84.48. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.73 and a beta of 1.44.

Timken (NYSE:TKR) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. Timken’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $2.01 earnings per share. Research analysts predict that The Timken Company will post 6.11 EPS for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a $0.34 dividend. 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 1.63%. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Analyst Upgrades and Downgrades

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