Amalgamated Bank Trims Holdings in The Timken Company (NYSE:TKR)

Amalgamated Bank decreased its stake in shares of The Timken Company (NYSE:TKR) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 44,057 shares of the industrial products company’s stock after selling 5,022 shares during the period. Amalgamated Bank owned 0.06% of Timken worth $3,531,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Timken in the fourth quarter valued at approximately $35,000. Anchor Investment Management LLC bought a new position in Timken in the 4th quarter valued at $58,000. Amica Retiree Medical Trust bought a new position in shares of Timken in the third quarter worth $75,000. Ramirez Asset Management Inc. purchased a new stake in shares of Timken in the third quarter worth $81,000. Finally, Quent Capital LLC boosted its stake in Timken by 50.4% during the fourth quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock valued at $82,000 after buying an additional 341 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of research analyst reports. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research report on Tuesday, February 20th. Loop Capital boosted their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and set a $100.00 price objective (up previously from $97.00) on shares of Timken in a research report on Thursday, March 21st. DA Davidson began coverage on shares of Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 target price for the company. Finally, StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.09.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares in the company, valued at approximately $7,590,053.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is currently owned by corporate insiders.

Timken Price Performance

TKR stock opened at $91.29 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $86.68 and its two-hundred day moving average price is $80.49. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.21 and a beta of 1.51. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $2.09 EPS. Timken’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts predict that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. This is an increase from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Monday, May 13th. Timken’s payout ratio is presently 25.14%.

Timken 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.