The Timken Company (NYSE:TKR) Short Interest Update

The Timken Company (NYSE:TKR) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 840,700 shares, a decline of 35.8% from the August 15th total of 1,310,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 602,600 shares, the days-to-cover ratio is presently 1.4 days.

Insider Buying and Selling

In related news, CEO Richard G. Kyle sold 31,933 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.06, for a total transaction of $2,556,555.98. Following the transaction, the chief executive officer now directly owns 383,082 shares of the company’s stock, valued at approximately $30,669,544.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Richard G. Kyle sold 31,933 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.06, for a total value of $2,556,555.98. Following the completion of the sale, the chief executive officer now directly owns 383,082 shares in the company, valued at approximately $30,669,544.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard G. Kyle sold 32,379 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $76.50, for a total value of $2,476,993.50. Following the completion of the sale, the chief executive officer now owns 383,082 shares of the company’s stock, valued at $29,305,773. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,101 shares of company stock valued at $8,482,893. 9.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Timken

A number of institutional investors and hedge funds have recently bought and sold shares of TKR. Spire Wealth Management acquired a new stake in shares of Timken in the first quarter valued at about $26,000. CoreCap Advisors LLC acquired a new stake in shares of Timken in the fourth quarter valued at about $31,000. Global Retirement Partners LLC increased its stake in shares of Timken by 2,606.7% in the first quarter. Global Retirement Partners LLC now owns 406 shares of the industrial products company’s stock valued at $31,000 after buying an additional 391 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Timken in the fourth quarter valued at about $34,000. Finally, Money Concepts Capital Corp acquired a new stake in shares of Timken in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 84.56% of the company’s stock.

Timken Price Performance

Shares of TKR opened at $72.59 on Friday. Timken has a 12-month low of $58.35 and a 12-month high of $95.08. The business has a 50-day simple moving average of $82.31 and a two-hundred day simple moving average of $80.89. The company has a quick ratio of 1.43, a current ratio of 2.65 and a debt-to-equity ratio of 0.77. The stock has a market cap of $5.16 billion, a PE ratio of 12.30, a PEG ratio of 0.84 and a beta of 1.60.

Timken (NYSE:TKR) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.06). Timken had a return on equity of 20.87% and a net margin of 9.08%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company earned $1.67 EPS. Timken’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts anticipate that Timken will post 7.12 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Tuesday, August 15th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.82%. Timken’s payout ratio is presently 22.37%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TKR shares. StockNews.com started coverage on Timken in a research report on Thursday, August 17th. They set a “buy” rating for the company. Oppenheimer upped their target price on Timken from $90.00 to $97.00 in a research report on Monday, June 26th. Bank of America downgraded Timken from a “buy” rating to a “neutral” rating and upped their target price for the company from $88.00 to $100.00 in a research report on Friday, July 21st. Stifel Nicolaus reiterated a “buy” rating and set a $97.00 target price on shares of Timken in a research report on Wednesday. Finally, Citigroup dropped their price objective on Timken from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, August 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Timken currently has an average rating of “Moderate Buy” and a consensus target price of $92.89.

Timken Company Profile

The Timken Company designs, manufactures, and manages engineered bearings and industrial motion products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as industrial motion components, engineered chains, augers, belts, couplings, clutches, 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.