The Timken Company (NYSE:TKR) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in The Timken Company (NYSE:TKR) by 72.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,705 shares of the industrial products company’s stock after buying an additional 2,405 shares during the period. Sequoia Financial Advisors LLC’s holdings in Timken were worth $481,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TKR. Livelsberger Financial Advisory purchased a new position in shares of Timken during the third quarter worth approximately $32,000. Raymond James & Associates increased its position in Timken by 10.3% in the 3rd quarter. Raymond James & Associates now owns 182,749 shares of the industrial products company’s stock valued at $15,404,000 after acquiring an additional 17,124 shares during the period. Blue Trust Inc. increased its position in Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 166 shares during the period. nVerses Capital LLC acquired a new stake in Timken during the 3rd quarter worth approximately $421,000. Finally, NBC Securities Inc. grew its stake in shares of Timken by 1.6% in the 3rd quarter. NBC Securities Inc. now owns 11,531 shares of the industrial products company’s stock valued at $971,000 after purchasing an additional 177 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup started coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Evercore ISI cut their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.70.

Timken Stock Down 0.1 %

TKR opened at $84.61 on Monday. 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 company has a market cap of $5.96 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.92 and a beta of 1.43. The Timken Company has a one year low of $65.71 and a one year high of $94.71. The business’s fifty day moving average is $82.92 and its two-hundred day moving average is $84.03.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.01 EPS. Analysts anticipate that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Insider Buying and Selling

In other news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

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.