Qsemble Capital Management LP Makes New Investment in The Timken Company (NYSE:TKR)

Qsemble Capital Management LP bought a new position in shares of The Timken Company (NYSE:TKR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,430 shares of the industrial products company’s stock, valued at approximately $542,000.

Other hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in Timken during the second quarter worth $4,363,000. Comerica Bank increased its position in Timken by 13.8% during the first 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 during the last quarter. American Century Companies Inc. increased its position in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares during the last quarter. Hsbc Holdings PLC increased its position 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 during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Timken during the third quarter valued at about $2,863,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TKR has been the subject of a number of recent analyst reports. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. DA Davidson decreased their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Timken has a consensus rating of “Hold” and a consensus price target of $90.00.

Timken Stock Up 0.3 %

NYSE TKR opened at $76.80 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm has a 50-day simple moving average of $81.29 and a 200 day simple moving average of $82.60. The Timken Company has a twelve month low of $71.57 and a twelve month high of $94.71. The stock has a market cap of $5.39 billion, a PE ratio of 15.97, a PEG ratio of 1.15 and a beta of 1.43.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.55 EPS. On average, research analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio is 28.27%.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

About Timken

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.