Victory Capital Management Inc. Has $14.34 Million Stock Holdings in The Timken Company (NYSE:TKR)

Victory Capital Management Inc. lowered its stake in The Timken Company (NYSE:TKR) by 9.2% during the third quarter, Holdings Channel.com reports. The fund owned 170,177 shares of the industrial products company’s stock after selling 17,150 shares during the period. Victory Capital Management Inc.’s holdings in Timken were worth $14,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the last quarter. Versant Capital Management Inc acquired a new position in Timken during the second quarter worth $30,000. Livelsberger Financial Advisory bought a new stake in Timken during the third quarter worth $32,000. UMB Bank n.a. lifted its stake in Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Timken in the second quarter valued at $44,000. Institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Shares of Timken stock opened at $73.50 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The Timken Company has a twelve month low of $71.57 and a twelve month high of $94.71. The company has a 50-day simple moving average of $81.70 and a two-hundred day simple moving average of $83.11.

Timken (NYSE:TKR) last released its quarterly earnings results 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). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates 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 firm posted $1.55 earnings per share. Analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.85%. Timken’s payout ratio is 28.27%.

Analyst Ratings Changes

Several brokerages recently issued reports on TKR. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp cut their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Citigroup started coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. 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. Finally, Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.00.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the company’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 sale, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.70% of the stock is currently owned by 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.