Anchor Bolt Capital LP Has $20.66 Million Holdings in Timken Company (The) (TKR)

Anchor Bolt Capital LP raised its position in shares of Timken Company (The) (NYSE:TKR) by 155.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 425,625 shares of the industrial products company’s stock after purchasing an additional 259,028 shares during the quarter. Anchor Bolt Capital LP owned 0.55% of Timken worth $20,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capstone Asset Management Co. lifted its holdings in Timken by 2.4% during the second quarter. Capstone Asset Management Co. now owns 5,605 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 130 shares in the last quarter. Bank of Montreal Can raised its position in shares of Timken by 6.8% during the second quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock valued at $221,000 after buying an additional 303 shares during the last quarter. US Bancorp DE raised its position in shares of Timken by 10.1% during the second quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after buying an additional 390 shares during the last quarter. Russell Investments Group Ltd. increased its position in Timken by 15.5% in the second quarter. Russell Investments Group Ltd. now owns 117,026 shares of the industrial products company’s stock worth $5,413,000 after purchasing an additional 15,714 shares during the last quarter. Finally, NGAM Advisors L.P. increased its position in Timken by 2.5% in the second quarter. NGAM Advisors L.P. now owns 42,745 shares of the industrial products company’s stock worth $1,977,000 after purchasing an additional 1,028 shares during the last quarter. 79.30% of the stock is currently owned by hedge funds and other institutional investors.

Timken Company (NYSE TKR) traded down $0.05 during trading on Thursday, reaching $48.80. The company’s stock had a trading volume of 469,300 shares, compared to its average volume of 783,259. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Timken Company has a 1-year low of $38.90 and a 1-year high of $53.10. The stock has a market cap of $3,830.00, a price-to-earnings ratio of 20.27, a PEG ratio of 1.61 and a beta of 1.50.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, November 16th. Timken’s dividend payout ratio (DPR) is presently 43.03%.

A number of research analysts have weighed in on the stock. BidaskClub cut shares of Timken from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. ValuEngine lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Jefferies Group reiterated a “hold” rating and issued a $50.00 target price on shares of Timken in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.00.

In related news, insider Richard G. Kyle sold 9,242 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $49.75, for a total transaction of $459,789.50. Following the completion of the sale, the insider now directly owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.08% of the stock is owned by company insiders.

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Timken 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.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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