The Timken Company (NYSE:TKR) CFO Sells $897,600.00 in Stock

The Timken Company (NYSE:TKR) CFO Philip D. Fracassa sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the sale, 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 is available through this link.

Timken Price Performance

Shares of NYSE:TKR opened at $89.82 on Thursday. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The company’s 50-day moving average is $86.53 and its 200 day moving average is $80.41. 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 company has a market capitalization of $6.32 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm 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 company earned $2.09 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities research analysts forecast that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a $0.34 dividend. This is an increase 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%. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio (DPR) is currently 25.14%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Timken in the 4th quarter worth about $56,995,000. Fiduciary Management Inc. WI increased its stake in shares of 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 worth $90,816,000 after purchasing an additional 551,097 shares in the last quarter. Provident Investment Management Inc. bought a new stake in shares of Timken in the third quarter valued at approximately $23,408,000. Stansberry Asset Management LLC purchased a new stake in shares of Timken during the 3rd quarter valued at approximately $16,422,000. Finally, Atlantic Investment Management Inc. boosted its holdings in Timken by 69.4% in the 3rd quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after buying an additional 213,000 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TKR shares. Oppenheimer reissued an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Loop Capital increased their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. DA Davidson initiated coverage on shares of Timken in a report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective on the stock. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.09.

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.