Honkamp Krueger Financial Services Inc. acquired a new position in shares of Timken Co (NYSE:TKR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,393 shares of the industrial products company’s stock, valued at approximately $247,000.
Other institutional investors also recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its holdings in Timken by 9.1% during the third quarter. Parametric Portfolio Associates LLC now owns 243,161 shares of the industrial products company’s stock worth $10,580,000 after buying an additional 20,232 shares during the last quarter. Squarepoint Ops LLC increased its stake in Timken by 39.9% in the third quarter. Squarepoint Ops LLC now owns 67,000 shares of the industrial products company’s stock valued at $2,915,000 after purchasing an additional 19,117 shares in the last quarter. Mackay Shields LLC increased its stake in Timken by 43.2% in the third quarter. Mackay Shields LLC now owns 178,801 shares of the industrial products company’s stock valued at $7,779,000 after purchasing an additional 53,973 shares in the last quarter. Comerica Bank raised its holdings in Timken by 0.9% in the third quarter. Comerica Bank now owns 55,004 shares of the industrial products company’s stock worth $2,560,000 after purchasing an additional 497 shares during the period. Finally, Keybank National Association OH raised its holdings in Timken by 12.8% in the third quarter. Keybank National Association OH now owns 241,356 shares of the industrial products company’s stock worth $10,501,000 after purchasing an additional 27,304 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Shelly Marie Chadwick purchased 1,183 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $52.73 per share, for a total transaction of $62,379.59. Also, EVP Christopher A. Coughlin sold 46,813 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $53.00, for a total value of $2,481,089.00. Following the completion of the sale, the executive vice president now owns 115,539 shares in the company, valued at $6,123,567. The disclosure for this sale can be found here. Insiders have sold 77,977 shares of company stock valued at $4,145,196 in the last three months. 11.58% of the stock is owned by insiders.
TKR has been the subject of several research analyst reports. KeyCorp boosted their price target on shares of Timken from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Stifel Nicolaus upped their price objective on shares of Timken from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley raised their price objective on Timken from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Zacks Investment Research upgraded Timken from a “strong sell” rating to a “hold” rating and set a $60.00 target price on the stock in a report on Thursday, January 2nd. Finally, Bank of America raised Timken from an “underperform” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Timken presently has an average rating of “Hold” and an average price target of $62.50.
NYSE TKR opened at $57.59 on Thursday. The business has a 50 day simple moving average of $55.65 and a 200 day simple moving average of $48.24. Timken Co has a 52-week low of $37.74 and a 52-week high of $58.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 2.57. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.48 and a beta of 1.84.
Timken (NYSE:TKR) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $945.87 million. Timken had a return on equity of 21.12% and a net margin of 8.11%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share. On average, analysts predict that Timken Co will post 4.72 EPS for the current year.
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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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