Timken Co (NYSE:TKR) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 1,349,400 shares, a decrease of 9.8% from the May 30th total of 1,495,900 shares. Based on an average daily trading volume, of 655,700 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.0% of the shares of the stock are short sold.
A number of equities research analysts recently issued reports on the company. Morgan Stanley set a $143.00 target price on FedEx and gave the company a “hold” rating in a research note on Monday, June 10th. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Zacks Investment Research raised Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Saturday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.63.
In related news, EVP Ronald J. Myers sold 13,191 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $50.77, for a total value of $669,707.07. Following the sale, the executive vice president now owns 18,987 shares of the company’s stock, valued at approximately $963,969.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shelly Marie Chadwick sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.44, for a total value of $123,456.00. Following the completion of the sale, the insider now directly owns 1,443 shares in the company, valued at approximately $74,227.92. The disclosure for this sale can be found here. 11.58% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Strs Ohio lifted its stake in shares of Timken by 7.9% during the 1st quarter. Strs Ohio now owns 7,714 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 563 shares during the period. Texas Permanent School Fund lifted its stake in shares of Timken by 2.3% during the 1st quarter. Texas Permanent School Fund now owns 46,301 shares of the industrial products company’s stock worth $2,020,000 after purchasing an additional 1,034 shares during the period. Scout Investments Inc. purchased a new position in shares of Timken during the 1st quarter worth $27,070,000. W.E. Donoghue & Co. LLC purchased a new position in shares of Timken during the 1st quarter worth $1,001,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Timken by 282.6% during the 1st quarter. Meeder Asset Management Inc. now owns 28,481 shares of the industrial products company’s stock worth $1,244,000 after purchasing an additional 21,037 shares during the period. 77.93% of the stock is currently owned by institutional investors.
Shares of Timken stock opened at $48.37 on Friday. Timken has a fifty-two week low of $33.98 and a fifty-two week high of $52.45. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.98 and a beta of 1.77. The business’s fifty day simple moving average is $47.92. The company has a current ratio of 2.81, a quick ratio of 1.58 and a debt-to-equity ratio of 1.07.
Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. Timken had a return on equity of 21.51% and a net margin of 8.55%. The company had revenue of $979.70 million for the quarter, compared to analyst estimates of $983.81 million. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts forecast that Timken will post 5.26 EPS for the current fiscal year.
Timken Company Profile
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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