Schwab Charles Investment Management Inc. cut its holdings in Timken Co (NYSE:TKR) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 349,926 shares of the industrial products company’s stock after selling 40,726 shares during the period. Schwab Charles Investment Management Inc. owned 0.45% of Timken worth $16,989,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Advisor Group Inc. raised its holdings in Timken by 19.7% in the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 666 shares during the last quarter. US Bancorp DE raised its holdings in Timken by 10.1% in the 2nd quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 390 shares during the last quarter. Calamos Advisors LLC acquired a new position in Timken in the 2nd quarter valued at $210,000. FDx Advisors Inc. acquired a new position in Timken in the 3rd quarter valued at $225,000. Finally, Janus Henderson Group PLC acquired a new position in Timken in the 2nd quarter valued at $215,000. Institutional investors own 78.90% of the company’s stock.
Shares of Timken Co (TKR) traded up $0.38 during midday trading on Friday, hitting $52.20. 527,427 shares of the stock traded hands, compared to its average volume of 491,091. Timken Co has a one year low of $41.78 and a one year high of $53.10. The stock has a market cap of $4,024.45, a PE ratio of 21.51, a PEG ratio of 1.47 and a beta of 1.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38.
Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The firm had revenue of $771.40 million during the quarter, compared to analysts’ expectations of $758.91 million. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 17.3% on a year-over-year basis. sell-side analysts forecast that Timken Co will post 2.62 earnings per share for the current fiscal year.
In related 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 transaction of $459,789.50. Following the completion of the sale, the insider now directly owns 89,236 shares of the company’s stock, valued at approximately $4,439,491. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.08% of the stock is currently owned by corporate insiders.
TKR has been the subject of several research reports. Zacks Investment Research cut shares of Timken from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and set a $50.00 price objective on shares of Timken in a research note on Thursday, October 26th. Finally, Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $52.00.
Timken Company 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.
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