BlackRock Inc. boosted its position in shares of The Timken Co (NYSE:TKR) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,734,858 shares of the industrial products company’s stock after acquiring an additional 183,777 shares during the quarter. BlackRock Inc. owned 7.39% of The Timken worth $281,869,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Boston Partners boosted its holdings in The Timken by 3.8% during the 4th quarter. Boston Partners now owns 2,405,305 shares of the industrial products company’s stock valued at $118,221,000 after acquiring an additional 88,955 shares during the period. Earnest Partners LLC boosted its holdings in The Timken by 1.3% during the 3rd quarter. Earnest Partners LLC now owns 1,995,646 shares of the industrial products company’s stock valued at $96,889,000 after acquiring an additional 25,770 shares during the period. Wells Fargo & Company MN boosted its holdings in The Timken by 116.9% during the 4th quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock valued at $46,477,000 after acquiring an additional 509,673 shares during the period. Victory Capital Management Inc. boosted its holdings in The Timken by 1.1% during the 4th quarter. Victory Capital Management Inc. now owns 832,424 shares of the industrial products company’s stock valued at $40,914,000 after acquiring an additional 9,301 shares during the period. Finally, Anchor Bolt Capital LP boosted its holdings in The Timken by 155.5% during the 3rd quarter. Anchor Bolt Capital LP now owns 425,625 shares of the industrial products company’s stock valued at $20,664,000 after acquiring an additional 259,028 shares during the period. Institutional investors own 79.48% of the company’s stock.
TKR stock traded down $1.70 during mid-day trading on Monday, reaching $43.90. The company had a trading volume of 631,602 shares, compared to its average volume of 854,376. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.13. The firm has a market capitalization of $3,551.46, a P/E ratio of 17.34, a P/E/G ratio of 1.12 and a beta of 1.47. The Timken Co has a fifty-two week low of $41.85 and a fifty-two week high of $55.65.
The Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $767.98 million. The Timken had a return on equity of 14.55% and a net margin of 6.77%. The Timken’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. analysts expect that The Timken Co will post 3.53 EPS for the current year.
In other The Timken news, insider Richard G. Kyle sold 3,084 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.74, for a total value of $144,146.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jacqueline F. Woods sold 3,350 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $45.12, for a total value of $151,152.00. Following the completion of the sale, the director now directly owns 15,878 shares in the company, valued at approximately $716,415.36. The disclosure for this sale can be found here. 11.15% of the stock is owned by company insiders.
TKR has been the subject of a number of research analyst reports. Longbow Research upgraded The Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Jefferies Group upgraded The Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded The Timken from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus lowered their target price on The Timken from $53.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.00.
About The Timken
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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