Shellback Capital LP Has $1.97 Million Stake in The Timken Company (NYSE:TKR)

Shellback Capital LP cut its stake in shares of The Timken Company (NYSE:TKR) by 71.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,635 shares of the industrial products company’s stock after selling 62,712 shares during the period. Shellback Capital LP’s holdings in Timken were worth $1,974,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Timken by 154.9% during the 4th quarter. BNP Paribas Financial Markets now owns 7,934 shares of the industrial products company’s stock valued at $636,000 after acquiring an additional 4,822 shares in the last quarter. Trexquant Investment LP purchased a new position in Timken in the fourth quarter valued at about $596,000. Commerce Bank purchased a new stake in shares of Timken during the 4th quarter worth about $474,000. Hsbc Holdings PLC raised its stake in shares of Timken by 12.4% during the 4th quarter. Hsbc Holdings PLC now owns 39,430 shares of the industrial products company’s stock worth $3,155,000 after purchasing an additional 4,362 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Timken by 63,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,542 shares of the industrial products company’s stock valued at $204,000 after buying an additional 2,538 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Up 3.2 %

Timken stock opened at $84.79 on Friday. 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 fifty-two week low of $65.71 and a fifty-two week high of $94.71. The firm has a fifty day moving average price of $82.28 and a two-hundred day moving average price of $84.45. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.80 and a beta of 1.44.

Timken (NYSE:TKR) last posted 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. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.01 EPS. As a group, analysts forecast that The Timken Company will post 6.11 earnings per share for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.34 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.60%. Timken’s payout ratio is 25.90%.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the 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 approximately $19,671,263.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TKR. Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. DA Davidson restated a “buy” rating and set a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Finally, Raymond James initiated coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.18.

Timken Company Profile

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.