The Timken Co (NYSE:TKR) shares rose 6.6% on Tuesday . The stock traded as high as $49.15 and last traded at $48.65. Approximately 2,155,699 shares were traded during trading, an increase of 154% from the average daily volume of 847,513 shares. The stock had previously closed at $45.65.
TKR has been the topic of several recent analyst reports. Longbow Research raised The Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Jefferies Group raised The Timken from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research raised The Timken from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus lowered their price target on The Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $52.25.
The stock has a market cap of $3,559.25, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.13.
The Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $778.00 million for the quarter, compared to analyst estimates of $767.98 million. The Timken had a return on equity of 14.55% and a net margin of 6.77%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 EPS. sell-side analysts expect that The Timken Co will post 3.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, February 16th. The Timken’s dividend payout ratio (DPR) is 42.02%.
In other news, Director Jacqueline F. Woods sold 3,350 shares of The Timken stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total transaction of $151,152.00. Following the completion of the transaction, the director now directly owns 15,878 shares in the company, valued at approximately $716,415.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard G. Kyle sold 3,084 shares of The Timken stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.74, for a total value of $144,146.16. The disclosure for this sale can be found here. 11.08% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TKR. Cerebellum GP LLC bought a new position in shares of The Timken during the 4th quarter worth approximately $128,000. Contravisory Investment Management Inc. bought a new position in shares of The Timken during the 4th quarter worth approximately $148,000. Assetmark Inc. boosted its stake in shares of The Timken by 976.8% during the 4th quarter. Assetmark Inc. now owns 3,015 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 2,735 shares during the period. State of Alaska Department of Revenue bought a new position in shares of The Timken during the 4th quarter worth approximately $201,000. Finally, Creative Planning bought a new position in shares of The Timken during the 4th quarter worth approximately $210,000. Institutional investors own 79.45% of the company’s stock.
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The Timken Company Profile
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and 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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