Kornitzer Capital Management Inc. KS Purchases 3,810 Shares of Timken Company (The) $TKR

Kornitzer Capital Management Inc. KS grew its position in shares of Timken Company (The) (NYSE:TKR) by 54.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,750 shares of the industrial products company’s stock after acquiring an additional 3,810 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Timken were worth $780,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Timken by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company’s stock valued at $477,681,000 after buying an additional 180,705 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Timken by 7.3% during the first quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock worth $243,648,000 after acquiring an additional 231,435 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Timken by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,367,167 shares of the industrial products company’s stock worth $170,124,000 after acquiring an additional 133,674 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Timken by 2.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,990,929 shares of the industrial products company’s stock valued at $143,088,000 after purchasing an additional 46,090 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 959,672 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TKR has been the subject of several recent research reports. DA Davidson boosted their price target on shares of Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Citigroup boosted their target price on Timken from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Timken in a report on Friday. Evercore ISI set a $84.00 price target on Timken and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. initiated coverage on Timken in a research report on Monday, September 15th. They issued a “neutral” rating and a $80.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Timken has a consensus rating of “Hold” and a consensus price target of $80.73.

Timken Trading Up 0.6%

TKR opened at $78.18 on Monday. Timken Company has a one year low of $56.20 and a one year high of $86.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. The business has a 50 day simple moving average of $76.39 and a two-hundred day simple moving average of $73.32. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.73 and a beta of 1.26.

Timken (NYSE:TKR) last issued its quarterly earnings data 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 analyst estimates of $1.15 billion. Timken had a return on equity of 11.78% and a net margin of 6.86%.The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Analysts predict that Timken Company will post 5.62 EPS for the current 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 issued a $0.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.40 annualized dividend and a yield of 1.8%. Timken’s dividend payout ratio is 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.