Timken (NYSE:TKR) Sets New 52-Week Low – Here’s What Happened

The Timken Company (NYSE:TKR)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $57.17 and last traded at $57.51, with a volume of 30756 shares changing hands. The stock had previously closed at $60.09.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TKR. Citigroup decreased their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI lifted their price target on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group dropped their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Timken currently has an average rating of “Moderate Buy” and an average target price of $88.82.

Timken Stock Performance

The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a market cap of $4.08 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company’s fifty day moving average is $77.08 and its 200 day moving average is $77.81.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, equities analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio is 27.25%.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Timken

Several large investors have recently modified their holdings of TKR. M&T Bank Corp grew its position in shares of Timken by 0.6% in the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after buying an additional 144 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 158 shares during the period. Amundi boosted its stake in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares in the last quarter. Ethic Inc. raised its stake in Timken by 2.8% in the fourth quarter. Ethic Inc. now owns 6,882 shares of the industrial products company’s stock worth $491,000 after buying an additional 188 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its holdings in shares of Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock valued at $418,000 after buying an additional 190 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

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.