LSV Asset Management increased its stake in Timken Co (NYSE:TKR) by 7.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,653,575 shares of the industrial products company’s stock after buying an additional 117,700 shares during the quarter. LSV Asset Management owned 2.15% of Timken worth $82,430,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TKR. Bank of Montreal Can purchased a new position in shares of Timken in the 2nd quarter worth about $123,000. Meeder Asset Management Inc. boosted its holdings in shares of Timken by 3,876.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,738 shares of the industrial products company’s stock worth $187,000 after buying an additional 3,644 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in Timken during the second quarter valued at about $218,000. Fulton Bank N.A. purchased a new stake in Timken during the third quarter valued at about $221,000. Finally, Palouse Capital Management Inc. purchased a new stake in Timken during the second quarter valued at about $222,000. 79.14% of the stock is currently owned by institutional investors.
In other news, Director Frank C. Sullivan purchased 5,000 shares of the stock in a transaction dated Monday, November 5th. The shares were purchased at an average cost of $41.05 per share, with a total value of $205,250.00. Following the completion of the acquisition, the director now owns 51,932 shares in the company, valued at approximately $2,131,808.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shelly Marie Chadwick sold 1,043 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $48.85, for a total transaction of $50,950.55. Following the completion of the sale, the insider now directly owns 3,102 shares in the company, valued at $151,532.70. The disclosure for this sale can be found here. Corporate insiders own 11.15% of the company’s stock.
NYSE TKR opened at $41.16 on Friday. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.64 and a beta of 1.86. Timken Co has a 52 week low of $34.90 and a 52 week high of $55.65. The company has a current ratio of 2.72, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03.
Timken (NYSE:TKR) last released its quarterly earnings data on Monday, October 29th. The industrial products company reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The business had revenue of $881.30 million for the quarter, compared to analysts’ expectations of $912.58 million. Timken had a net margin of 7.89% and a return on equity of 19.58%. Timken’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. On average, analysts anticipate that Timken Co will post 4.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Monday, November 19th. Timken’s payout ratio is 42.59%.
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Timken Company Profile
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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