Tidal Investments LLC Has $543,000 Stock Holdings in The Timken Company (NYSE:TKR)

Tidal Investments LLC trimmed its position in The Timken Company (NYSE:TKR) by 15.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,437 shares of the industrial products company’s stock after selling 1,198 shares during the quarter. Tidal Investments LLC’s holdings in Timken were worth $543,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Coastline Trust Co bought a new position in shares of Timken in the third quarter worth about $29,000. Livelsberger Financial Advisory acquired a new stake in Timken in the 3rd quarter valued at approximately $32,000. UMB Bank n.a. increased its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Timken during the second quarter worth approximately $44,000. Finally, Brooklyn Investment Group bought a new stake in shares of Timken in the third quarter valued at approximately $74,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Performance

Timken stock opened at $71.63 on Monday. The firm has a market capitalization of $5.02 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.12 and a beta of 1.38. The stock has a fifty day moving average price of $78.66 and a two-hundred day moving average price of $81.03. The Timken Company has a 52-week low of $70.20 and a 52-week high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 earnings per share. As a group, analysts anticipate that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.90%. Timken’s dividend payout ratio is 28.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley raised Timken from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. Citigroup raised Timken from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $90.00 in a report on Monday, December 9th. Finally, DA Davidson decreased their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.90.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.70% of the company’s stock.

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.