Choreo LLC Takes Position in The Timken Company (NYSE:TKR)

Choreo LLC purchased a new stake in shares of The Timken Company (NYSE:TKR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,146 shares of the industrial products company’s stock, valued at approximately $328,000.

Other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken in the first quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in shares of Timken in the fourth quarter worth about $30,000. Versant Capital Management Inc acquired a new position in shares of Timken during the second quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 343 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in Timken by 51.3% in the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction 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 directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TKR. Raymond James began coverage on Timken in a research note on Friday, June 28th. They issued a “market perform” rating for the company. DA Davidson reaffirmed a “buy” rating and issued a $103.00 target price on shares of Timken in a research note on Tuesday. KeyCorp boosted their price target on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Evercore ISI reduced their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Timken has an average rating of “Hold” and a consensus price target of $89.18.

Timken Trading Up 1.2 %

NYSE:TKR opened at $81.58 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The Timken Company has a twelve month low of $65.71 and a twelve month high of $94.71. The company has a market cap of $5.74 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.69 and a beta of 1.44. The business has a 50 day moving average price of $82.37 and a two-hundred day moving average price of $84.56.

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

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid 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 yield of 1.67%. Timken’s dividend payout ratio is 25.90%.

About Timken

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.