The Timken Company (NYSE:TKR) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lowered its holdings in The Timken Company (NYSE:TKR) by 54.5% in the first quarter, Holdings Channel.com reports. The firm owned 12,513 shares of the industrial products company’s stock after selling 14,963 shares during the period. Quadrature Capital Ltd’s holdings in Timken were worth $1,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TKR. Fidelis Capital Partners LLC acquired a new position in Timken during the first quarter worth $26,000. Livelsberger Financial Advisory bought a new position in Timken during the fourth quarter worth about $30,000. GAMMA Investing LLC bought a new position in Timken during the fourth quarter worth about $35,000. Manchester Capital Management LLC lifted its stake in Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 205 shares during the period. Finally, Quent Capital LLC lifted its stake in Timken by 50.4% during the fourth quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 341 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TKR. Loop Capital raised their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. KeyCorp raised their price target on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Stifel Nicolaus lifted their target price on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Raymond James began coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Timken has a consensus rating of “Hold” and an average price target of $87.91.

Timken Stock Performance

Shares of TKR stock traded up $1.68 on Friday, reaching $85.26. The stock had a trading volume of 500,062 shares, compared to its average volume of 469,985. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $83.48 and its two-hundred day moving average is $84.32. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.81 and a beta of 1.46. The Timken Company has a 12 month low of $65.71 and a 12 month high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. On average, research analysts expect that The Timken Company will post 6.2 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a $0.34 dividend. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, May 13th. Timken’s dividend payout ratio is currently 25.90%.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at $9,473,360.16. The disclosure for this sale can be found here. Insiders have sold a total of 59,006 shares of company stock valued at $5,269,636 in the last three months. 8.70% of the stock is currently owned by company insiders.

Timken 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.