The Timken Company (NYSE:TKR) Position Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in shares of The Timken Company (NYSE:TKR) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 529,161 shares of the industrial products company’s stock after buying an additional 3,462 shares during the period. The Manufacturers Life Insurance Company’s holdings in Timken were worth $42,402,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after acquiring an additional 128,791 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after acquiring an additional 97,550 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Timken by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock valued at $105,957,000 after acquiring an additional 26,671 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Timken by 15.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock valued at $105,247,000 after acquiring an additional 178,870 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Insider Activity at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $80.76, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 274,485 shares in the company, valued at approximately $22,167,408.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is currently owned by company insiders.

Timken Stock Up 0.2 %

Timken stock opened at $84.97 on Monday. The company has a market capitalization of $5.98 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.80 and a beta of 1.44. The firm’s fifty day simple moving average is $82.31 and its 200-day simple moving average is $84.42. 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 Timken Company has a 1-year low of $65.71 and a 1-year high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. Timken’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 EPS. Sell-side analysts forecast that The Timken Company will post 6.11 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid 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 yield of 1.60%. Timken’s payout ratio is presently 25.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TKR shares. DA Davidson restated a “buy” rating and issued a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. 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. Finally, Raymond James started coverage on shares of Timken in a research report on Friday, June 28th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Timken has an average rating of “Hold” and an average target price of $89.18.

Timken 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.