Kornitzer Capital Management Inc. KS Takes Position in The Timken Company (NYSE:TKR)

Kornitzer Capital Management Inc. KS purchased a new position in The Timken Company (NYSE:TKR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,130 shares of the industrial products company’s stock, valued at approximately $348,000.

Several other large investors also recently bought and sold shares of the business. Texas Permanent School Fund Corp lifted its holdings in shares of Timken by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,806 shares of the industrial products company’s stock valued at $4,967,000 after acquiring an additional 736 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 155 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Timken by 16.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 59,460 shares of the industrial products company’s stock valued at $5,199,000 after buying an additional 8,285 shares during the period. Concurrent Investment Advisors LLC lifted its position in Timken by 11.8% in the first quarter. Concurrent Investment Advisors LLC now owns 8,623 shares of the industrial products company’s stock worth $754,000 after buying an additional 911 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Timken by 26.4% during the first quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock worth $34,462,000 after buying an additional 82,382 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TKR. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp reduced their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI dropped their target price on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. DA Davidson reduced their price target on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup began coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.60.

Timken Price Performance

TKR opened at $76.85 on Friday. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.94 and a beta of 1.43. The company has a current ratio of 3.00, a quick ratio of 1.64 and a debt-to-equity ratio of 0.71. The Timken Company has a 12-month low of $70.15 and a 12-month high of $94.71. The business’s fifty day simple moving average is $82.41 and its 200-day simple moving average is $83.76.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

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.