Cornerstone Capital Management Holdings LLC. Lowers Stake in Timken Co (TKR)

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.

A number of equities analysts have commented on TKR shares. Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Thursday, September 28th. Jefferies Group reissued a “hold” rating and issued a $50.00 price target on shares of Timken in a research note on Thursday, October 26th. ValuEngine cut shares of Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub cut shares of Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Timken has a consensus rating of “Hold” and a consensus target price of $52.00.

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%.

ILLEGAL ACTIVITY WARNING: “Cornerstone Capital Management Holdings LLC. Lowers Stake in Timken Co (TKR)” was originally reported by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://weekherald.com/2017/12/13/cornerstone-capital-management-holdings-llc-lowers-stake-in-timken-co-tkr.html.

Timken Profile

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.

Institutional Ownership by Quarter for Timken (NYSE:TKR)

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.

Leave a Reply