The Timken Company (NYSE:TKR) Announces $0.34 Quarterly Dividend

The Timken Company (NYSE:TKR) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Tuesday, November 19th will be paid a dividend of 0.34 per share by the industrial products company on Friday, November 29th. This represents a $1.36 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, November 19th.

Timken has raised its dividend payment by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Timken has a dividend payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Timken to earn $6.47 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 21.0%.

Timken Trading Up 0.8 %

Shares of NYSE:TKR opened at $75.59 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The stock’s 50-day moving average is $81.89 and its 200-day moving average is $83.36. The company has a market cap of $5.30 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.12 and a beta of 1.43. Timken has a 52-week low of $71.57 and a 52-week high of $94.71.

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $87.00 to $91.00 in a research report on Wednesday. DA Davidson dropped their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup began coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, KeyCorp cut their price target on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus price target 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.