Sterling Capital Management LLC Takes $2.64 Million Position in Timken Co (NYSE:TKR)

Sterling Capital Management LLC bought a new stake in Timken Co (NYSE:TKR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 51,392 shares of the industrial products company’s stock, valued at approximately $2,638,000. Sterling Capital Management LLC owned approximately 0.07% of Timken as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NumerixS Investment Technologies Inc acquired a new position in Timken during the second quarter worth about $56,000. Tower Research Capital LLC TRC raised its position in Timken by 27.4% during the second quarter. Tower Research Capital LLC TRC now owns 7,380 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 1,589 shares during the last quarter. Earnest Partners LLC raised its position in Timken by 0.8% during the second quarter. Earnest Partners LLC now owns 1,951,019 shares of the industrial products company’s stock worth $100,165,000 after acquiring an additional 14,670 shares during the last quarter. BlackRock Inc. raised its position in Timken by 1.0% during the second quarter. BlackRock Inc. now owns 6,294,669 shares of the industrial products company’s stock worth $323,168,000 after acquiring an additional 64,489 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. acquired a new position in Timken during the second quarter worth about $1,725,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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

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

Shares of NYSE TKR traded up $0.10 during midday trading on Thursday, reaching $44.62. 16,458 shares of the stock were exchanged, compared to its average volume of 545,893. The company has a market capitalization of $3.42 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.08 and a beta of 1.79. Timken Co has a 52-week low of $33.98 and a 52-week high of $52.45. The company has a current ratio of 2.68, a quick ratio of 1.47 and a debt-to-equity ratio of 0.96. The stock has a 50 day moving average price of $41.59 and a 200-day moving average price of $45.64.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.18). The firm had revenue of $1,000.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. Timken had a return on equity of 21.40% and a net margin of 8.38%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. On average, analysts forecast that Timken Co will post 4.92 earnings per share 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. The ex-dividend date was Tuesday, August 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.51%. Timken’s dividend payout ratio (DPR) is presently 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.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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