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

State of Alaska Department of Revenue grew its holdings in Timken Company (The) (NYSE:TKR) by 127.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,798 shares of the industrial products company’s stock after purchasing an additional 44,680 shares during the period. State of Alaska Department of Revenue owned approximately 0.11% of Timken worth $5,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TKR. Livelsberger Financial Advisory bought a new stake in shares of Timken in the second quarter valued at approximately $28,000. Steph & Co. bought a new stake in shares of Timken in the second quarter valued at approximately $37,000. UMB Bank n.a. grew its stake in Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 800 shares in the last quarter. GAMMA Investing LLC grew its stake in Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 847 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Timken by 664.6% during the second quarter. Farther Finance Advisors LLC now owns 1,208 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 1,050 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Timken Price Performance

TKR stock opened at $75.55 on Monday. 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 one year low of $56.20 and a one year high of $87.52. The stock has a market cap 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 firm has a 50 day simple moving average of $77.20 and a two-hundred day simple moving average of $72.55.

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

Timken Announces Dividend

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

About Timken

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.