LSV Asset Management Lowers Stock Position in Timken Company (The) $TKR

LSV Asset Management cut its stake in shares of Timken Company (The) (NYSE:TKR) by 15.3% in the second quarter, Holdings Channel.com reports. The fund owned 344,492 shares of the industrial products company’s stock after selling 62,200 shares during the period. LSV Asset Management’s holdings in Timken were worth $24,993,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Channing Capital Management LLC boosted its position in shares of Timken by 631.7% during the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company’s stock worth $77,883,000 after purchasing an additional 935,554 shares during the period. Cooke & Bieler LP lifted its stake in Timken by 341.0% during the second quarter. Cooke & Bieler LP now owns 1,106,981 shares of the industrial products company’s stock worth $80,311,000 after purchasing an additional 855,961 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Timken by 57.3% during the second quarter. Bank of New York Mellon Corp now owns 1,107,778 shares of the industrial products company’s stock worth $80,369,000 after buying an additional 403,629 shares during the period. American Century Companies Inc. grew its stake in shares of Timken by 7.3% in the first quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock valued at $243,648,000 after buying an additional 231,435 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Timken by 48.5% in the first quarter. Millennium Management LLC now owns 681,379 shares of the industrial products company’s stock valued at $48,971,000 after buying an additional 222,679 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Timken from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $88.00 price objective on shares of Timken in a research note on Thursday, October 30th. Citigroup lifted their price objective on shares of Timken from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Timken in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.20.

Timken Trading Up 0.0%

NYSE TKR opened at $74.44 on Wednesday. Timken Company has a 52 week low of $56.20 and a 52 week high of $84.43. The firm has a 50 day moving average of $76.51 and a two-hundred day moving average of $75.15. The company has a quick ratio of 1.72, a current ratio of 3.11 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $5.18 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 6.54% and a return on equity of 11.88%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.23 EPS. Timken has set its FY 2025 guidance at 5.200-5.300 EPS. As a group, research analysts expect that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 25th. Timken’s payout ratio is 33.10%.

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.