Forum Financial Management LP Acquires New Position in The Timken Company (NYSE:TKR)

Forum Financial Management LP acquired a new stake in shares of The Timken Company (NYSE:TKR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,418 shares of the industrial products company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of Timken by 6.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 106,932 shares of the industrial products company’s stock valued at $9,349,000 after buying an additional 6,398 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Timken in the first quarter worth $26,000. Avidian Wealth Solutions LLC purchased a new position in shares of Timken in the first quarter valued at $235,000. Texas Permanent School Fund Corp raised its stake in shares of Timken by 1.3% during 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 purchasing an additional 736 shares during the period. Finally, Manchester Capital Management LLC lifted its holdings in Timken by 51.3% during the 1st 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 in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the transaction, the chief executive officer now directly owns 244,485 shares in the company, valued at approximately $19,671,263.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.70% of the company’s stock.

Timken Stock Performance

NYSE TKR opened at $72.60 on Wednesday. The company has a market capitalization of $5.09 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The Timken Company has a 52-week low of $70.15 and a 52-week high of $94.71. The company has a fifty day moving average of $82.98 and a 200-day moving average of $84.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TKR shares. Evercore ISI decreased their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup began coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.70.

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.