The Timken Company (NYSE:TKR - Get Free Report) CEO Richard G. Kyle sold 20,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now directly owns 366,799 shares of the company's stock, valued at approximately $32,678,122.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Timken Stock Up 0.2 %
Shares of NYSE:TKR opened at $89.71 on Tuesday. The firm has a market capitalization of $6.32 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The firm's 50-day moving average is $86.12 and its two-hundred day moving average is $80.06.
Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $2.09 EPS. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. Analysts predict that The Timken Company will post 6.18 EPS for the current year.
Timken Increases Dividend
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be paid a $0.34 dividend. This is a boost from Timken's previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, May 13th. Timken's dividend payout ratio (DPR) is presently 25.90%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of TKR. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Timken in the 4th quarter valued at about $12,398,000. WCM Investment Management LLC increased its stake in shares of Timken by 8.7% during the fourth quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company's stock worth $16,443,000 after buying an additional 16,322 shares during the period. Duality Advisers LP increased its stake in shares of Timken by 226.3% during the fourth quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company's stock worth $2,227,000 after buying an additional 19,274 shares during the period. Foundry Partners LLC raised its holdings in Timken by 5.6% in the fourth quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company's stock valued at $6,999,000 after acquiring an additional 4,598 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Timken by 64.5% in the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company's stock worth $883,000 after acquiring an additional 4,712 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on TKR. The Goldman Sachs Group increased their price target on shares of Timken from $78.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, February 6th. KeyCorp lifted their target price on Timken from $91.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Oppenheimer reiterated an "outperform" rating and set a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com downgraded Timken from a "buy" rating to a "hold" rating in a research report on Wednesday, February 21st. Finally, Loop Capital upped their target price on shares of Timken from $78.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $87.09.
Read Our Latest Report on Timken
Timken Company Profile
(
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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.
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