Timken Co (TKR) Stake Increased by Systematic Financial Management LP

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Systematic Financial Management LP lifted its stake in shares of Timken Co (NYSE:TKR) by 103.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,049 shares of the industrial products company’s stock after buying an additional 116,105 shares during the quarter. Systematic Financial Management LP owned about 0.30% of Timken worth $9,932,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TKR. Bronfman E.L. Rothschild L.P. lifted its position in shares of Timken by 1,368.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock worth $100,000 after buying an additional 2,052 shares during the last quarter. Bank of Montreal Can purchased a new stake in Timken in the 2nd quarter valued at $123,000. Integrated Investment Consultants LLC purchased a new stake in Timken in the 2nd quarter valued at $220,000. Palouse Capital Management Inc. purchased a new stake in Timken in the 2nd quarter valued at $222,000. Finally, Pitcairn Co. purchased a new stake in Timken in the 2nd quarter valued at $233,000. Institutional investors and hedge funds own 79.20% of the company’s stock.

Shares of TKR opened at $48.10 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.30 and a current ratio of 2.39. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.77 and a beta of 1.60. Timken Co has a 1 year low of $41.85 and a 1 year high of $55.65.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.03. The company had revenue of $906.30 million for the quarter, compared to analysts’ expectations of $904.77 million. Timken had a net margin of 7.60% and a return on equity of 18.39%. Timken’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. equities research analysts expect that Timken Co will post 4.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Friday, August 17th will be paid a $0.28 dividend. The ex-dividend date is Thursday, August 16th. This represents a $1.12 annualized dividend and a yield of 2.33%. Timken’s dividend payout ratio is currently 42.59%.

Several analysts recently commented on TKR shares. ValuEngine downgraded shares of Timken from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Vertical Research upgraded shares of Timken from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Bank of America upped their price target on shares of Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a research report on Tuesday, May 22nd. Stifel Nicolaus upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $60.00 in a research report on Monday, May 28th. Finally, KeyCorp upgraded shares of Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 price target for the company in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Timken has a consensus rating of “Buy” and a consensus target price of $55.40.

In other Timken news, CFO Philip D. Fracassa sold 3,582 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $48.39, for a total value of $173,332.98. Following the transaction, the chief financial officer now directly owns 43,534 shares of the company’s stock, valued at approximately $2,106,610.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $49.10, for a total transaction of $196,498.20. Following the completion of the transaction, the director now directly owns 269,902 shares in the company, valued at $13,252,188.20. The disclosure for this sale can be found here. Insiders own 11.15% of the company’s stock.

Timken 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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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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