Teachers Retirement System of The State of Kentucky Decreases Stake in The Timken Company (NYSE:TKR)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of The Timken Company (NYSE:TKR) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,161 shares of the industrial products company’s stock after selling 570 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Timken were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TT International Asset Management LTD boosted its holdings in Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock worth $3,310,000 after buying an additional 35,932 shares during the period. Neo Ivy Capital Management bought a new position in shares of Timken in the third quarter worth $734,000. Geode Capital Management LLC grew its position in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock valued at $90,477,000 after purchasing an additional 5,970 shares in the last quarter. Vestcor Inc purchased a new position in shares of Timken in the third quarter valued at $560,000. Finally, M&T Bank Corp raised its stake in shares of Timken by 0.6% during the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 144 shares during the period. Institutional investors own 89.08% of the company’s stock.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by company insiders.

Timken Trading Down 0.8 %

NYSE TKR opened at $74.86 on Tuesday. The stock’s 50-day simple moving average is $79.47 and its two-hundred day simple moving average is $81.37. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.12 and a beta of 1.38. The Timken Company has a twelve month low of $72.35 and a twelve month high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The business 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%. Timken’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 posted $1.55 EPS. Research analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio is 28.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TKR. Citigroup raised Timken from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $90.00 in a report on Monday, December 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. DA Davidson lowered their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

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.