GHP Investment Advisors Inc. Increases Stock Holdings in The Timken Company (NYSE:TKR)

GHP Investment Advisors Inc. lifted its stake in shares of The Timken Company (NYSE:TKR) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,634 shares of the industrial products company’s stock after purchasing an additional 1,159 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Timken were worth $1,253,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Comerica Bank raised its position in Timken by 13.8% during the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after buying an additional 7,160 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares during the period. Fiduciary Management Inc. WI raised its holdings in Timken by 94.7% during 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. Nomura Holdings Inc. acquired a new stake in Timken in the fourth quarter valued at about $1,667,000. Finally, BNP Paribas purchased a new stake in Timken in the 1st quarter valued at approximately $1,144,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Evercore ISI cut their target price on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. KeyCorp raised their target price on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Raymond James initiated coverage on shares of Timken in a research note on Friday, June 28th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus target price of $88.18.

Insider Activity

In related news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer now owns 244,485 shares in the company, valued at approximately $19,671,263.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.70% of the company’s stock.

Timken Price Performance

Shares of NYSE TKR opened at $79.77 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $82.35 and its 200 day moving average price is $84.58. The Timken Company has a 52 week low of $65.71 and a 52 week high of $94.71. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.69 and a beta of 1.44.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts forecast that The Timken Company will post 6.13 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. Timken’s dividend payout ratio (DPR) is 25.90%.

Timken 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.