The Timken Company (NYSE:TKR) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its stake in shares of The Timken Company (NYSE:TKR) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,482 shares of the industrial products company’s stock after purchasing an additional 144 shares during the period. M&T Bank Corp’s holdings in Timken were worth $2,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning grew its holdings in shares of Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after buying an additional 150 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its position in Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after acquiring an additional 155 shares during the last quarter. Blue Trust Inc. grew its stake in Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 166 shares in the last quarter. UMB Bank n.a. raised its holdings in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Timken by 3.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 168 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TKR shares. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $90.00 in a research report on Monday, December 9th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Timken has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Timken Stock Down 0.6 %

Timken stock opened at $75.50 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm has a 50 day moving average price of $79.64 and a 200 day moving average price of $81.47. The Timken Company has a fifty-two week low of $72.35 and a fifty-two week high of $94.71. The company has a market capitalization of $5.29 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the firm posted $1.55 EPS. Timken’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts expect that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is currently 28.27%.

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.