Qsemble Capital Management LP Takes $542,000 Position in The Timken Company (NYSE:TKR)

Qsemble Capital Management LP bought a new stake in shares of The Timken Company (NYSE:TKR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,430 shares of the industrial products company’s stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after purchasing an additional 107,350 shares during the period. Dimensional Fund Advisors LP lifted its position in Timken by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after purchasing an additional 97,550 shares during the period. Earnest Partners LLC lifted its position in Timken by 2.1% in the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after purchasing an additional 26,671 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Timken by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company’s stock worth $54,784,000 after purchasing an additional 1,989 shares during the period. 89.08% of the stock is owned by institutional investors.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is currently owned by company insiders.

Timken Price Performance

TKR opened at $76.80 on Thursday. The stock has a fifty day moving average of $81.29 and a 200-day moving average of $82.60. The firm has a market capitalization of $5.39 billion, a P/E ratio of 15.97, a PEG ratio of 1.15 and a beta of 1.43. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $1.55 EPS. Timken’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Analysts Set New Price Targets

A number of research firms have weighed in on TKR. Oppenheimer cut their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. DA Davidson cut their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, Citigroup initiated coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

About Timken

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.