By otakuyassine3@gmail.com 
The Timken Company (NYSE:TKR – Get Free Report)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $71.70 and last traded at $72.05, with a volume of 305511 shares changing hands. The stock had previously closed at $74.75.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $82.00 to $93.00 in a report on Tuesday. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. 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 report on Friday, December 6th. Finally, 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 research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.90.
Check Out Our Latest Stock Analysis on Timken
Timken Stock Performance
The stock has a market cap of $5.02 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $78.91 and a 200 day simple moving average of $81.14.
Timken (NYSE:TKR – Get Free Report) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 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 analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Timken’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that The Timken Company will post 5.61 earnings per share for the current year.
Timken Announces Dividend
The business also recently announced 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 annualized dividend and a yield of 1.90%. The ex-dividend date was Tuesday, November 19th. Timken’s payout ratio is presently 28.27%.
Insider Transactions at Timken
In related news, Director Richard G. Kyle sold 30,000 shares of Timken 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 sale, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Timken
A number of hedge funds have recently modified their holdings of the stock. Coastline Trust Co bought a new stake in shares of Timken during the 3rd quarter worth $29,000. Livelsberger Financial Advisory purchased a new position in shares of Timken during the 3rd quarter valued at about $32,000. UMB Bank n.a. lifted its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Timken during the second quarter valued at approximately $44,000. Finally, Brooklyn Investment Group purchased a new position in shares of Timken during the third quarter worth approximately $74,000. Institutional investors own 89.08% of the company’s stock.
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.
Read More
Receive News & Ratings for Timken Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Timken and related companies with MarketBeat.com’s FREE daily email newsletter.