State of Alaska Department of Revenue Acquires 44,680 Shares of Timken Company (The) $TKR

State of Alaska Department of Revenue lifted its holdings in Timken Company (The) (NYSE:TKR) by 127.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 79,798 shares of the industrial products company’s stock after acquiring an additional 44,680 shares during the quarter. State of Alaska Department of Revenue’s holdings in Timken were worth $5,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TKR. Victory Capital Management Inc. raised its holdings in Timken by 108.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after buying an additional 959,672 shares during the last quarter. Channing Capital Management LLC raised its holdings in Timken by 631.7% during the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company’s stock valued at $77,883,000 after buying an additional 935,554 shares during the last quarter. Cooke & Bieler LP bought a new stake in Timken during the 1st quarter valued at $18,041,000. American Century Companies Inc. raised its holdings in Timken by 7.3% during the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock valued at $243,648,000 after buying an additional 231,435 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Timken by 48.5% during the 1st quarter. Millennium Management LLC now owns 681,379 shares of the industrial products company’s stock valued at $48,971,000 after buying an additional 222,679 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TKR shares. Citigroup upped their price target on shares of Timken from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. JPMorgan Chase & Co. started coverage on shares of Timken in a report on Monday, September 15th. They issued a “neutral” rating and a $80.00 price objective for the company. DA Davidson upped their price objective on shares of Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Evercore ISI set a $84.00 price objective on shares of Timken and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.73.

Timken Stock Up 1.8%

NYSE:TKR opened at $75.55 on Monday. The firm’s 50-day moving average price is $77.20 and its 200-day moving average price is $72.55. The company has a market capitalization of $5.26 billion, a PE ratio of 17.17, a P/E/G ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. Timken Company has a 1-year low of $56.20 and a 1-year high of $87.52.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 6.86% and a return on equity of 11.78%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, equities analysts predict that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.9%. Timken’s dividend payout ratio is currently 31.82%.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.