Timken Co. (TKR) To Go Ex-Dividend on November 18th
Timken Co. (NYSE:TKR) announced a quarterly dividend on Friday, November 11th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of 0.26 per share on Friday, December 2nd. This represents a $1.04 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, November 18th.
Shares of Timken (NYSE:TKR) opened at 38.65 on Thursday. Timken has a 52 week low of $22.22 and a 52 week high of $39.75. The firm’s 50-day moving average is $34.89 and its 200 day moving average is $33.40. The firm has a market capitalization of $3.01 billion, a P/E ratio of 33.35 and a beta of 1.44.
Timken (NYSE:TKR) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. Timken had a net margin of 3.40% and a return on equity of 12.38%. The business had revenue of $657.40 million for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. Timken’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that Timken will post $1.93 EPS for the current fiscal year.
In other Timken news, CFO Philip D. Fracassa sold 2,229 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $34.27, for a total value of $76,387.83. Following the sale, the chief financial officer now directly owns 30,784 shares in the company, valued at $1,054,967.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William R. Burkhart sold 4,235 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $34.37, for a total transaction of $145,556.95. Following the completion of the sale, the executive vice president now owns 40,607 shares in the company, valued at $1,395,662.59. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Advantus Capital Management Inc raised its stake in shares of Timken by 2.7% in the third quarter. Advantus Capital Management Inc now owns 8,575 shares of the company’s stock worth $301,000 after buying an additional 228 shares during the last quarter. AHL Partners LLP raised its stake in shares of Timken by 0.6% in the second quarter. AHL Partners LLP now owns 58,464 shares of the company’s stock worth $1,793,000 after buying an additional 347 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of Timken by 3.9% in the second quarter. Janus Capital Management LLC now owns 10,700 shares of the company’s stock worth $328,000 after buying an additional 400 shares during the last quarter. Comerica Bank raised its stake in shares of Timken by 0.7% in the second quarter. Comerica Bank now owns 72,225 shares of the company’s stock worth $2,447,000 after buying an additional 515 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Timken by 12.5% in the second quarter. US Bancorp DE now owns 5,273 shares of the company’s stock worth $162,000 after buying an additional 584 shares during the last quarter. Institutional investors own 77.55% of the company’s stock.
A number of equities analysts have issued reports on TKR shares. Evercore ISI raised shares of Timken from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, November 7th. Zacks Investment Research raised shares of Timken from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $33.86.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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