Allspring Global Investments Holdings LLC Has $41.28 Million Stock Position in Timken Company (The) $TKR

Allspring Global Investments Holdings LLC increased its position in shares of Timken Company (The) (NYSE:TKR) by 3.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 547,188 shares of the industrial products company’s stock after buying an additional 16,454 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Timken were worth $41,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings 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 during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Timken by 2.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 188 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Timken by 0.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,375 shares of the industrial products company’s stock valued at $7,717,000 after purchasing an additional 273 shares during the period. State of Alaska Department of Revenue grew its holdings in Timken by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 190 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Timken by 9.2% in the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock worth $147,000 after buying an additional 173 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Shares of Timken stock opened at $74.68 on Thursday. The firm has a market cap of $5.20 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26. The firm’s 50-day simple moving average is $76.42 and its 200-day simple moving average is $72.59. Timken Company has a twelve month low of $56.20 and a twelve month high of $87.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 3.13.

Timken (NYSE:TKR) last announced 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, research analysts expect that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 19th. Timken’s dividend payout ratio is currently 31.82%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup raised their price objective on shares of Timken from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. assumed coverage on shares of Timken in a report on Monday, September 15th. They issued a “neutral” rating and a $80.00 price target for the company. 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. DA Davidson increased their target price 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, Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Timken has a consensus rating of “Hold” and an average price target of $80.73.

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.