The Timken Company (NYSE:TKR) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in The Timken Company (NYSE:TKR) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,679,790 shares of the industrial products company’s stock after buying an additional 107,350 shares during the quarter. Thrivent Financial for Lutherans owned approximately 3.82% of Timken worth $225,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Creative Planning boosted its stake in Timken by 1.7% during the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 150 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Timken by 3.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after buying an additional 155 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after buying an additional 155 shares during the period. Blue Trust Inc. grew its holdings in shares of Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after buying an additional 166 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TKR. DA Davidson decreased 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. Citigroup initiated coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. KeyCorp cut their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $91.00 in a report on Wednesday. Finally, Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.00.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Stock Up 0.8 %

Shares of NYSE TKR opened at $75.59 on Friday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The Timken Company has a 52 week low of $71.57 and a 52 week high of $94.71. The firm has a 50-day moving average price of $81.89 and a 200 day moving average price of $83.36. 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 announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 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 firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $1.55 EPS. Timken’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.80%. Timken’s dividend payout ratio (DPR) is 28.27%.

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.