Point72 Asset Management L.P. Invests $6.90 Million in The Timken Company (NYSE:TKR)

Point72 Asset Management L.P. acquired a new stake in shares of The Timken Company (NYSE:TKR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 86,069 shares of the industrial products company’s stock, valued at approximately $6,897,000. Point72 Asset Management L.P. owned approximately 0.12% of Timken as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TKR. Hsbc Holdings PLC boosted its stake in shares of Timken by 12.4% during the fourth quarter. Hsbc Holdings PLC now owns 39,430 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 4,362 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in 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 worth $204,000 after acquiring an additional 2,538 shares during the last quarter. First Trust Advisors LP increased its position in Timken by 28.8% in the 4th quarter. First Trust Advisors LP now owns 306,559 shares of the industrial products company’s stock valued at $24,571,000 after acquiring an additional 68,507 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Timken by 1,305.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 51,175 shares of the industrial products company’s stock valued at $4,102,000 after acquiring an additional 47,534 shares during the last quarter. Finally, Keeley Teton Advisors LLC raised its stake in shares of Timken by 26.8% during the fourth quarter. Keeley Teton Advisors LLC now owns 23,790 shares of the industrial products company’s stock valued at $1,907,000 after acquiring an additional 5,029 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Shares of TKR opened at $83.88 on Wednesday. The firm has a market cap of $5.88 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. 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 business’s 50 day moving average price is $82.33 and its two-hundred day moving average price is $84.40.

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

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is currently 25.90%.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now owns 274,485 shares in the company, valued at $22,167,408.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

TKR has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Raymond James started coverage on Timken in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, DA Davidson reaffirmed 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 assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.