Creative Planning Purchases 150 Shares of The Timken Company (NYSE:TKR)

Creative Planning boosted its position in The Timken Company (NYSE:TKR) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,123 shares of the industrial products company’s stock after acquiring an additional 150 shares during the quarter. Creative Planning’s holdings in Timken were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC bought a new position in Timken in the second quarter valued at $538,000. Security National Bank of SO Dak grew its stake in shares of Timken by 3.6% during the second quarter. Security National Bank of SO Dak now owns 23,233 shares of the industrial products company’s stock valued at $1,862,000 after buying an additional 805 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Timken by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company’s stock valued at $42,402,000 after buying an additional 3,462 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Timken by 2.1% during the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock valued at $105,957,000 after buying an additional 26,671 shares during the last quarter. Finally, AXA S.A. grew its stake in shares of Timken by 39.6% during the second quarter. AXA S.A. now owns 7,817 shares of the industrial products company’s stock valued at $626,000 after buying an additional 2,217 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Activity

In other news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 274,485 shares in the company, valued at approximately $22,167,408.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Raymond James assumed coverage on Timken in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $90.70.

Timken Stock Performance

Shares of TKR opened at $84.04 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 one year low of $65.71 and a one year high of $94.71. The company has a 50-day simple moving average of $82.11 and a two-hundred day simple moving average of $84.20. The firm has a market capitalization of $5.89 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 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 during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business posted $2.01 earnings per share. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, analysts anticipate that The Timken Company will post 6.09 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a yield of 1.62%. Timken’s dividend payout ratio (DPR) is presently 27.87%.

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.