Mirabella Financial Services LLP Buys Shares of 26,278 The Timken Company (NYSE:TKR)

Mirabella Financial Services LLP acquired a new position in shares of The Timken Company (NYSE:TKR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,278 shares of the industrial products company’s stock, valued at approximately $2,215,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Timken during the second quarter valued at $4,363,000. Comerica Bank raised its stake in shares of Timken by 13.8% in the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after buying an additional 7,160 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Timken by 102.5% during the second quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company’s stock worth $979,000 after buying an additional 6,167 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Timken in the third quarter worth approximately $2,863,000. 89.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TKR has been the subject of several research reports. Citigroup began coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Oppenheimer dropped their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.00.

Timken Stock Up 0.8 %

TKR stock opened at $76.56 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The company has a 50-day moving average of $81.45 and a two-hundred day moving average of $82.80. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.13 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.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $1.55 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.78%. Timken’s dividend payout ratio (DPR) is currently 28.27%.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.70% of the company’s stock.

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.