The Timken Company (NYSE:TKR) Stock Position Raised by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in shares of The Timken Company (NYSE:TKR) by 3,179.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,858 shares of the industrial products company’s stock after purchasing an additional 187,946 shares during the period. Verition Fund Management LLC owned approximately 0.28% of Timken worth $16,340,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TKR. American Century Companies Inc. raised its holdings in 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 worth $225,750,000 after buying an additional 128,791 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after acquiring an additional 107,350 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after acquiring an additional 97,550 shares in the last quarter. Earnest Partners LLC boosted its stake in Timken by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after purchasing an additional 26,671 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Timken by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company’s stock worth $54,784,000 after purchasing an additional 1,989 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Stock Up 0.8 %

Timken stock opened at $77.45 on Friday. The Timken Company has a 1-year low of $72.14 and a 1-year high of $94.71. The firm’s fifty day simple moving average is $81.06 and its 200-day simple moving average is $82.52. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $5.43 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.14 and a beta of 1.43.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business posted $1.55 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts forecast that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.76%. Timken’s payout ratio is presently 28.27%.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of research analyst reports. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their target price for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. 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. Finally, DA Davidson lowered their price objective 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. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus price target of $90.00.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were 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 trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.70% of the stock is owned by insiders.

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.