Timken Company (The) (TKR) Stake Increased by Sei Investments Co.

Sei Investments Co. increased its stake in shares of Timken Company (The) (NYSE:TKR) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,076 shares of the industrial products company’s stock after buying an additional 30,821 shares during the period. Sei Investments Co. owned approximately 0.33% of Timken Company (The) worth $11,439,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Karp Capital Management Corp bought a new position in shares of Timken Company (The) during the first quarter valued at $1,592,000. Meadow Creek Investment Management LLC raised its position in shares of Timken Company (The) by 301.7% in the first quarter. Meadow Creek Investment Management LLC now owns 7,520 shares of the industrial products company’s stock valued at $340,000 after buying an additional 5,648 shares in the last quarter. World Asset Management Inc raised its position in shares of Timken Company (The) by 0.3% in the first quarter. World Asset Management Inc now owns 5,194 shares of the industrial products company’s stock valued at $235,000 after buying an additional 18 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Timken Company (The) by 331.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,019 shares of the industrial products company’s stock valued at $498,000 after buying an additional 8,463 shares in the last quarter. Finally, Strategic Advisors LLC bought a new position in shares of Timken Company (The) during the first quarter valued at $218,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.

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

Timken Company (TKR) traded down 0.55% during midday trading on Friday, hitting $45.55. 907,937 shares of the company were exchanged. The firm has a market capitalization of $3.55 billion, a PE ratio of 28.96 and a beta of 1.32. Timken Company has a 1-year low of $28.72 and a 1-year high of $51.75. The stock has a 50 day moving average of $46.76 and a 200 day moving average of $44.13.

Timken Company (The) (NYSE:TKR) last posted its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Timken Company (The) had a net margin of 4.75% and a return on equity of 12.10%. The business had revenue of $703.80 million for the quarter, compared to analyst estimates of $649.70 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Timken Company (The)’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Timken Company will post $2.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 19th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 17th. This represents a $1.08 annualized dividend and a yield of 2.37%. This is a positive change from Timken Company (The)’s previous quarterly dividend of $0.26. Timken Company (The)’s payout ratio is presently 66.67%.

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Several brokerages have recently weighed in on TKR. Zacks Investment Research upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Saturday, April 29th. Stifel Nicolaus upped their target price on shares of Timken Company (The) from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $45.00 target price on shares of Timken Company (The) in a report on Tuesday, April 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.71.

In other Timken Company (The) news, Director Jacqueline F. Woods sold 1,300 shares of Timken Company (The) stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $46.02, for a total value of $59,826.00. Following the completion of the transaction, the director now directly owns 19,249 shares of the company’s stock, valued at $885,838.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William R. Burkhart sold 32,580 shares of Timken Company (The) stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $47.94, for a total transaction of $1,561,885.20. Following the completion of the transaction, the executive vice president now directly owns 55,640 shares of the company’s stock, valued at $2,667,381.60. The disclosure for this sale can be found here. Insiders have sold 39,078 shares of company stock worth $1,871,839 in the last three months. 11.08% of the stock is currently owned by insiders.

Timken Company (The) Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

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