Earnest Partners LLC Boosts Stake in Timken Co (NYSE:TKR)

Earnest Partners LLC lifted its stake in shares of Timken Co (NYSE:TKR) by 0.8% during the second quarter, HoldingsChannel.com reports. The fund owned 1,951,019 shares of the industrial products company’s stock after buying an additional 14,670 shares during the quarter. Earnest Partners LLC’s holdings in Timken were worth $100,165,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TKR. Advisors Preferred LLC acquired a new stake in Timken during the 2nd quarter worth $37,000. Bank of Montreal Can boosted its stake in shares of Timken by 17.7% during the 1st quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 365 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Timken during the 2nd quarter worth about $112,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Timken in the second quarter worth approximately $115,000. Finally, Machina Capital S.A.S. acquired a new stake in shares of Timken in the second quarter worth approximately $138,000. 78.50% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director John M. Timken, Jr. purchased 5,000 shares of Timken stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $38.04 per share, with a total value of $190,200.00. Following the completion of the acquisition, the director now owns 397,734 shares in the company, valued at approximately $15,129,801.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.58% of the company’s stock.

A number of research analysts have weighed in on TKR shares. Morgan Stanley began coverage on shares of Timken in a research report on Monday, June 10th. They set an “equal weight” rating and a $54.00 price target on the stock. Goldman Sachs Group raised shares of Timken from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $56.00 in a report on Tuesday, July 16th. Bank of America downgraded shares of Timken from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Monday, July 15th. ValuEngine downgraded shares of Timken from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $55.75.

Shares of TKR opened at $44.71 on Friday. Timken Co has a 1 year low of $33.98 and a 1 year high of $52.45. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.47 and a current ratio of 2.68. The firm has a fifty day moving average of $42.06 and a 200-day moving average of $45.61.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.18). Timken had a net margin of 8.38% and a return on equity of 21.40%. The firm had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $1.11 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts predict that Timken Co will post 4.87 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is 26.79%.

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.

Further Reading: What is a good rate of return for a mutual fund?

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Timken Co (NYSE:TKR).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.