Penserra Capital Management LLC Acquires New Shares in The Timken Company (NYSE:TKR)

Penserra Capital Management LLC purchased a new stake in The Timken Company (NYSE:TKR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,355 shares of the industrial products company’s stock, valued at approximately $451,000.

Several other large investors have also recently bought and sold shares of TKR. American Century Companies Inc. boosted its holdings in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Timken by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after acquiring an additional 97,550 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Timken during the 2nd quarter worth $6,897,000. Finally, Royce & Associates LP lifted its holdings in shares of Timken by 73.2% during the 3rd quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after acquiring an additional 80,513 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the business’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 transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Timken Price Performance

TKR stock opened at $76.80 on Friday. The firm’s 50-day moving average price is $81.20 and its two-hundred day moving average price is $82.56. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.15 and a beta of 1.43. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. Timken’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio is currently 28.27%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. DA Davidson lowered their price target 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. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Finally, KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.00.

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.