Quadrature Capital Ltd Has $1.09 Million Stake in The Timken Company (NYSE:TKR)

Quadrature Capital Ltd cut its stake in The Timken Company (NYSE:TKR) by 54.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,513 shares of the industrial products company’s stock after selling 14,963 shares during the quarter. Quadrature Capital Ltd’s holdings in Timken were worth $1,094,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Westwood Holdings Group Inc. raised its position in shares of Timken by 19.2% in the first quarter. Westwood Holdings Group Inc. now owns 231,022 shares of the industrial products company’s stock valued at $20,198,000 after purchasing an additional 37,232 shares during the period. Vanguard Group Inc. raised its position in shares of Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Timken in the first quarter valued at about $499,000. Foundry Partners LLC raised its position in shares of Timken by 11.3% in the first quarter. Foundry Partners LLC now owns 97,148 shares of the industrial products company’s stock valued at $8,494,000 after purchasing an additional 9,825 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Timken by 5.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 82,653 shares of the industrial products company’s stock valued at $6,754,000 after purchasing an additional 4,262 shares during the period. 89.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TKR has been the topic of several research reports. Loop Capital upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Raymond James initiated coverage on shares of Timken in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. KeyCorp upped their price target on shares of Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.91.

Timken Trading Up 2.0 %

NYSE TKR traded up $1.68 during trading hours on Friday, reaching $85.26. The company’s stock had a trading volume of 500,062 shares, compared to its average volume of 469,985. The firm has a fifty day simple moving average of $83.48 and a 200-day simple moving average of $84.32. The stock has a market cap of $6.00 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.81 and a beta of 1.46. The Timken Company has a 52 week low of $65.71 and a 52 week high of $94.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02.

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

Timken Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.34 per share. This is a positive change from Timken’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, May 13th. This represents a $1.36 annualized dividend and a yield of 1.60%. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of the firm’s 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 owns 105,541 shares in the company, valued at approximately $9,473,360.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Richard G. Kyle sold 20,000 shares of Timken 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 completion of the sale, the chief executive officer now owns 366,799 shares in the company, valued at approximately $32,678,122.91. The transaction was disclosed in a document filed 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 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 sale, the chief financial officer now owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is currently owned by insiders.

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.