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Timken Co (NYSE:TKR) Shares Bought by Boston Partners

2021-04-19

Boston Partners raised its holdings in shares of Timken Co (NYSE:TKR) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,944,278 shares of the industrial products company’s stock after buying an additional 48,733 shares during the quarter. Boston Partners owned about 2.51% of Timken worth $84,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Timken by 1,368.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock worth $100,000 after buying an additional 2,052 shares during the last quarter. Bank of Montreal Can bought a new stake in Timken during the second quarter valued at about $123,000. Integrated Investment Consultants LLC bought a new stake in Timken during the second quarter valued at about $220,000. Palouse Capital Management Inc. bought a new stake in Timken during the second quarter valued at about $222,000. Finally, Pitcairn Co. bought a new stake in Timken during the second quarter valued at about $233,000. Institutional investors and hedge funds own 77.33% of the company’s stock.
A number of equities research analysts have commented on TKR shares. Bank of America raised their price target on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Tuesday, May 22nd. Stifel Nicolaus raised Timken from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $60.00 in a report on Monday, May 28th. Vertical Research upgraded Timken from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. ValuEngine lowered Timken from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, KeyCorp upgraded Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 price target for the company in a research report on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.40.
Timken stock opened at $47.70 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57. Timken Co has a fifty-two week low of $41.85 and a fifty-two week high of $55.65. The company has a market cap of $3.72 billion, a PE ratio of 18.14, a P/E/G ratio of 0.77 and a beta of 1.60.
Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $906.30 million during the quarter, compared to the consensus estimate of $904.77 million. Timken had a net margin of 7.60% and a return on equity of 18.39%. Timken’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. sell-side analysts predict that Timken Co will post 4.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Friday, August 17th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, August 16th. Timken’s dividend payout ratio (DPR) is 42.59%.
In other news, Director Ward J. Timken, Jr. sold 4,002 shares of the company’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total transaction of $196,498.20. Following the transaction, the director now directly owns 269,902 shares of the company’s stock, valued at $13,252,188.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Philip D. Fracassa sold 3,582 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $48.39, for a total value of $173,332.98. Following the transaction, the chief financial officer now directly owns 43,534 shares in the company, valued at $2,106,610.26. The disclosure for this sale can be found here. Corporate insiders own 11.15% of the company’s stock.
Timken Company Profile
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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