Cobblestone Capital Advisors LLC NY Buys New Shares in The Timken Company (NYSE:TKR)

Cobblestone Capital Advisors LLC NY purchased a new position in shares of The Timken Company (NYSE:TKR) during the 3rd quarter, Holdings Channel reports. The fund purchased 3,161 shares of the industrial products company’s stock, valued at approximately $266,000.

A number of other large investors also recently modified their holdings of TKR. Verition Fund Management LLC raised its holdings in Timken by 3,179.1% during the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 187,946 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after buying an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after buying an additional 97,550 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Timken in the second quarter valued at $6,897,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TKR. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer lowered their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup started coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. DA Davidson reduced their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price target for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Timken presently has an average rating of “Hold” and a consensus target price of $90.00.

Timken Stock Performance

NYSE:TKR opened at $77.45 on Monday. The stock has a 50 day simple moving average of $80.96 and a 200 day simple moving average of $82.35. The stock has a market cap of $5.43 billion, a P/E ratio of 16.10, a PEG ratio of 1.15 and a beta of 1.43. The Timken Company has a 1-year low of $72.14 and a 1-year high of $94.71. 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 posted its 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). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted $1.55 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.76%. Timken’s dividend payout ratio is presently 28.27%.

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is owned by company 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.