Timken Co (TKR) Holdings Boosted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its stake in Timken Co (NYSE:TKR) by 10.1% during the 4th quarter, Holdings Channel reports. The firm owned 2,159,524 shares of the industrial products company’s stock after acquiring an additional 197,312 shares during the period. Dimensional Fund Advisors LP’s holdings in Timken were worth $80,593,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. United Services Automobile Association lifted its holdings in shares of Timken by 14.0% during the fourth quarter. United Services Automobile Association now owns 117,896 shares of the industrial products company’s stock worth $4,400,000 after purchasing an additional 14,500 shares during the period. JOYN Advisors Inc. lifted its holdings in shares of Timken by 23,766.7% during the fourth quarter. JOYN Advisors Inc. now owns 716 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 713 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Timken by 61.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 326,620 shares of the industrial products company’s stock worth $12,190,000 after purchasing an additional 123,700 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Timken by 11.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 42,869 shares of the industrial products company’s stock worth $1,485,000 after purchasing an additional 4,232 shares during the period. Finally, Burney Co. lifted its holdings in shares of Timken by 5.2% during the fourth quarter. Burney Co. now owns 22,895 shares of the industrial products company’s stock worth $854,000 after purchasing an additional 1,137 shares during the period. Institutional investors own 77.41% of the company’s stock.
TKR has been the subject of several recent research reports. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, May 3rd. ValuEngine raised Timken from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.83.
Timken (NYSE:TKR) last released its earnings results on Wednesday, May 1st. The industrial products company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. Timken had a return on equity of 21.51% and a net margin of 8.55%. The company had revenue of $979.70 million during the quarter, compared to the consensus estimate of $983.81 million. During the same quarter last year, the company earned $1.01 earnings per share. Timken’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Timken Co will post 5.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, May 21st. Timken’s dividend payout ratio (DPR) is currently 26.79%.
In other news, insider Shelly Marie Chadwick sold 2,400 shares of Timken stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.44, for a total transaction of $123,456.00. Following the completion of the transaction, the insider now owns 1,443 shares of the company’s stock, valued at approximately $74,227.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald J. Myers sold 13,191 shares of Timken stock in a transaction on Monday, May 6th. The stock was sold at an average price of $50.77, for a total value of $669,707.07. Following the transaction, the executive vice president now directly owns 18,987 shares of the company’s stock, valued at approximately $963,969.99. The disclosure for this sale can be found here. 11.58% of the stock is currently owned by company insiders.
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The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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