The Timken Company (NYSE:TKR) CEO Richard G. Kyle Sells 20,000 Shares

The Timken Company (NYSE:TKR) CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total value of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Timken Stock Up 0.2 %

Shares of NYSE:TKR traded up $0.22 during midday trading on Monday, hitting $89.71. 487,152 shares of the stock were exchanged, compared to its average volume of 506,966. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The business’s fifty day simple moving average is $86.12 and its two-hundred day simple moving average is $80.06. The company has a market capitalization of $6.32 billion, a PE ratio of 17.09, a P/E/G ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 EPS. As a group, research analysts predict that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.34 per share. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.52%. Timken’s dividend payout ratio (DPR) is currently 25.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in shares of Timken by 19.6% in the third quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock valued at $559,000 after acquiring an additional 1,245 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Timken by 8.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock worth $1,981,000 after acquiring an additional 2,026 shares during the period. Verdence Capital Advisors LLC grew its holdings in Timken by 8.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Timken by 26.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock valued at $4,089,000 after buying an additional 11,748 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of Timken in the 3rd quarter valued at $235,000. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TKR. DA Davidson began coverage on Timken in a research note on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. KeyCorp raised their price objective on Timken from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI lowered Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a research note on Tuesday, February 20th. Finally, Morgan Stanley initiated coverage on Timken in a report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $87.09.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.