Cornerstone Capital Management Holdings LLC. lowered its holdings in Timken Co (NYSE:TKR) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,712 shares of the industrial products company’s stock after selling 20,841 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.22% of Timken worth $8,287,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TKR. Advisor Group Inc. increased its holdings in Timken by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 666 shares during the period. US Bancorp DE increased its holdings in Timken by 10.1% during the 2nd quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 390 shares during the period. Calamos Advisors LLC bought a new stake in Timken during the 2nd quarter worth approximately $210,000. Janus Henderson Group PLC bought a new stake in Timken during the 2nd quarter worth approximately $215,000. Finally, Bank of Montreal Can increased its holdings in Timken by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 303 shares during the period. 79.30% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.08% of the stock is currently owned by corporate insiders.
Timken Co (NYSE:TKR) traded up $0.25 during mid-day trading on Wednesday, reaching $48.65. 588,900 shares of the company’s stock were exchanged, compared to its average volume of 779,373. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Timken Co has a fifty-two week low of $39.20 and a fifty-two week high of $53.10. The stock has a market cap of $3,820.00, a PE ratio of 20.08, a PEG ratio of 1.60 and a beta of 1.50.
Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The business had revenue of $771.40 million during the quarter, compared to analysts’ expectations of $758.91 million. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. sell-side analysts forecast that Timken Co will post 2.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.22%. Timken’s dividend payout ratio (DPR) is 43.03%.
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The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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