UBS Asset Management Americas Inc. boosted its holdings in Timken Company (The) (NYSE:TKR) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,995 shares of the industrial products company’s stock after acquiring an additional 7,394 shares during the period. UBS Asset Management Americas Inc. owned 0.11% of Timken Company (The) worth $3,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its holdings in Timken Company (The) by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 5,618 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 26 shares during the last quarter. Honkamp Krueger Financial Services Inc. lifted its holdings in Timken Company (The) by 0.6% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 6,510 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 41 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Timken Company (The) by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,244 shares of the industrial products company’s stock valued at $474,000 after acquiring an additional 47 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Timken Company (The) by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 14,570 shares of the industrial products company’s stock valued at $659,000 after acquiring an additional 64 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Timken Company (The) by 1.0% in the first quarter. M&T Bank Corp now owns 8,119 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 79.62% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/11/timken-company-the-tkr-position-lifted-by-ubs-asset-management-americas-inc.html.

Shares of Timken Company (NYSE:TKR) opened at 49.90 on Wednesday. The firm has a 50-day moving average price of $46.73 and a 200-day moving average price of $46.11. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 24.76 and a beta of 1.41. Timken Company has a 12 month low of $31.60 and a 12 month high of $51.75.

Timken Company (The) (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $750.60 million for the quarter, compared to analyst estimates of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. Timken Company (The)’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. Equities analysts expect that Timken Company will post $2.57 EPS for the current fiscal year.

A number of research analysts recently commented on the company. BidaskClub cut Timken Company (The) from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Zacks Investment Research raised Timken Company (The) from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, September 28th. Goldman Sachs Group, Inc. (The) lowered Timken Company (The) from a “conviction-buy” rating to a “buy” rating and cut their target price for the company from $55.00 to $51.00 in a research report on Monday, August 7th. Stifel Nicolaus reissued a “hold” rating and issued a $53.00 target price on shares of Timken Company (The) in a research report on Friday, June 30th. Finally, ValuEngine raised Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $46.67.

Timken Company (The) 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 Company (The) (NYSE:TKR)

Receive News & Stock Ratings for Timken Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken Company (The) and related stocks with our FREE daily email newsletter.