Capstone Asset Management Co. Raises Stake in Timken Co (TKR)
Capstone Asset Management Co. boosted its position in Timken Co (NYSE:TKR) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,475 shares of the industrial products company’s stock after buying an additional 270 shares during the period. Capstone Asset Management Co.’s holdings in Timken were worth $247,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. BB&T Corp boosted its position in Timken by 0.4% in the third quarter. BB&T Corp now owns 205,638 shares of the industrial products company’s stock worth $7,226,000 after buying an additional 775 shares during the period. Investment Partners Ltd. OH ADV acquired a new position in Timken during the third quarter worth approximately $439,000. BlackRock Advisors LLC boosted its position in Timken by 1.4% in the third quarter. BlackRock Advisors LLC now owns 39,456 shares of the industrial products company’s stock worth $1,386,000 after buying an additional 563 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Timken by 3.9% in the third quarter. Ameriprise Financial Inc. now owns 262,907 shares of the industrial products company’s stock worth $9,237,000 after buying an additional 9,839 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in Timken by 25.0% in the third quarter. OMERS ADMINISTRATION Corp now owns 15,000 shares of the industrial products company’s stock worth $527,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 75.87% of the company’s stock.
Shares of Timken Co (NYSE:TKR) traded down 1.73% during midday trading on Thursday, reaching $45.40. 717,407 shares of the company’s stock were exchanged. Timken Co has a 12-month low of $28.72 and a 12-month high of $51.75. The stock has a market capitalization of $3.54 billion, a P/E ratio of 28.86 and a beta of 1.39. The firm has a 50-day moving average of $46.31 and a 200-day moving average of $43.29.
Timken (NYSE:TKR) last issued its earnings results on Wednesday, April 26th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.12. The business had revenue of $703.80 million during the quarter, compared to analysts’ expectations of $649.70 million. Timken had a net margin of 5.72% and a return on equity of 11.56%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. Analysts anticipate that Timken Co will post $2.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This is a boost from Timken’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.38%. Timken’s payout ratio is 54.17%.
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Several equities research analysts have issued reports on the stock. Jefferies Group LLC raised their price objective on shares of Timken to $45.00 in a research report on Monday, February 13th. TheStreet upgraded shares of Timken from a “c” rating to a “b-” rating in a research report on Thursday, February 9th. Goldman Sachs Group Inc upgraded shares of Timken from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, January 27th. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Saturday, April 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Timken from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $44.38.
In other news, VP Ronald J. Myers sold 5,198 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $48.12, for a total transaction of $250,127.76. Following the completion of the transaction, the vice president now directly owns 11,453 shares of the company’s stock, valued at $551,118.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William R. Burkhart sold 32,580 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $47.94, for a total transaction of $1,561,885.20. Following the transaction, the executive vice president now directly owns 55,640 shares of the company’s stock, valued at $2,667,381.60. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.
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.
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