Timken Company (The) (TKR) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Timken Company (The) (NYSE:TKR) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,057,082 shares of the industrial products company’s stock after selling 27,937 shares during the period. Bank of New York Mellon Corp owned approximately 1.36% of Timken worth $51,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TKR. Advisor Group Inc. increased its stake in shares of Timken by 19.7% in the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 666 shares during the last quarter. US Bancorp DE increased its stake in shares of Timken by 10.1% in the 2nd quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 390 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of Timken in the 2nd quarter valued at $210,000. Janus Henderson Group PLC bought a new position in shares of Timken in the 2nd quarter valued at $215,000. Finally, Bank of Montreal Can grew its position in Timken by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 303 shares during the last quarter. Institutional investors own 79.30% of the company’s stock.

In other Timken news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the sale, the insider now owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.08% of the company’s stock.

TKR has been the topic of a number of research reports. Zacks Investment Research upgraded Timken from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Thursday, September 28th. Goldman Sachs Group lowered Timken from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $51.00 in a research report on Monday, August 7th. Jefferies Group restated a “hold” rating and set a $50.00 price objective on shares of Timken in a research report on Thursday, October 26th. ValuEngine lowered Timken from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.00.

Shares of Timken Company (NYSE TKR) traded down $0.70 during mid-day trading on Monday, reaching $49.20. The company had a trading volume of 738,800 shares, compared to its average volume of 782,656. The company has a market cap of $3,820.00, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.62 and a beta of 1.50. Timken Company has a twelve month low of $38.75 and a twelve month high of $53.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Timken had a return on equity of 13.75% and a net margin of 6.88%. The business had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. During the same quarter in the previous year, the company posted $0.53 EPS. Timken’s quarterly revenue was up 17.3% compared to the same quarter last year. sell-side analysts anticipate that Timken Company will post 2.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $0.27 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.20%. Timken’s dividend payout ratio (DPR) is presently 43.03%.

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Timken Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Institutional Ownership by Quarter for Timken (NYSE:TKR)

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