The Timken Company (NYSE:TKR) CFO Philip D. Fracassa Sells 10,000 Shares

The Timken Company (NYSE:TKR) CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Timken Stock Up 0.4 %

TKR traded up $0.35 during trading on Tuesday, hitting $90.01. The stock had a trading volume of 544,284 shares, compared to its average volume of 507,390. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a market capitalization of $6.34 billion, a PE ratio of 17.09, a PEG ratio of 1.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The stock has a 50 day simple moving average of $86.28 and a two-hundred day simple moving average of $80.20.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $2.09 EPS. Timken’s revenue was down 5.7% compared to the same quarter last year. On average, research analysts predict that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 1.51%. Timken’s dividend payout ratio (DPR) is 25.14%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TKR. Oppenheimer reiterated an “outperform” rating and set a $100.00 price objective (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Loop Capital lifted their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley started coverage on shares of Timken in a research report on Monday, January 8th. They set an “equal weight” rating and a $74.00 target price on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Timken has an average rating of “Hold” and a consensus target price of $87.09.

Institutional Trading of Timken

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Timken during the 4th quarter worth approximately $56,995,000. Fiduciary Management Inc. WI grew its holdings in Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after purchasing an additional 551,097 shares during the period. Provident Investment Management Inc. purchased a new position in shares of Timken in the 3rd quarter worth about $23,408,000. Stansberry Asset Management LLC purchased a new position in Timken in the third quarter valued at about $16,422,000. Finally, Atlantic Investment Management Inc. lifted its position in shares of Timken by 69.4% during the third quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after purchasing an additional 213,000 shares in the last quarter. Hedge funds and other institutional investors own 89.08% 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.