Victory Capital Management Inc. increased its position in shares of Timken Company (The) (NYSE:TKR) by 6.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 681,617 shares of the industrial products company’s stock after buying an additional 41,644 shares during the period. Victory Capital Management Inc. owned approximately 0.88% of Timken Company (The) worth $31,525,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TKR. TrimTabs Asset Management LLC boosted its stake in shares of Timken Company (The) by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 3,110 shares of the industrial products company’s stock worth $141,000 after buying an additional 1,464 shares during the period. Robecosam AG bought a new stake in shares of Timken Company (The) during the first quarter worth $158,000. US Bancorp DE boosted its stake in shares of Timken Company (The) by 3.9% in the first quarter. US Bancorp DE now owns 3,872 shares of the industrial products company’s stock worth $175,000 after buying an additional 145 shares during the period. HM Payson & Co. bought a new stake in shares of Timken Company (The) during the first quarter worth $202,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Timken Company (The) during the first quarter worth $210,000. Hedge funds and other institutional investors own 79.62% of the company’s stock.

Shares of Timken Company (NYSE:TKR) opened at 44.85 on Friday. The stock’s 50 day moving average price is $45.56 and its 200 day moving average price is $45.53. The company has a market cap of $3.49 billion, a PE ratio of 22.26 and a beta of 1.38. Timken Company has a one year low of $31.60 and a one year high of $51.75.

Timken Company (The) (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $750.60 million during the quarter, compared to analysts’ expectations of $716.50 million. Timken Company (The) had a return on equity of 12.73% and a net margin of 5.98%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. Equities analysts predict that Timken Company will post $2.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 22nd will be paid a $0.27 dividend. The ex-dividend date is Friday, August 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.41%. Timken Company (The)’s payout ratio is 51.67%.

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A number of analysts have weighed in on the company. BidaskClub cut Timken Company (The) from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) cut Timken Company (The) from a “conviction-buy” rating to a “buy” rating and lowered their price target for the company from $55.00 to $51.00 in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $53.00 price target on shares of Timken Company (The) in a research report on Friday, June 30th. ValuEngine upgraded Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Timken Company (The) presently has an average rating of “Hold” and a consensus price target of $46.83.

About Timken Company (The)

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 Company (The) (NYSE:TKR)

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