Systematic Financial Management LP Sells 71,892 Shares of Timken Co (NYSE:TKR)

Systematic Financial Management LP decreased its stake in Timken Co (NYSE:TKR) by 71.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,413 shares of the industrial products company’s stock after selling 71,892 shares during the period. Systematic Financial Management LP’s holdings in Timken were worth $1,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can grew its holdings in shares of Timken by 17.7% in the 1st quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 365 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Timken in the 2nd quarter valued at about $138,000. World Asset Management Inc bought a new position in shares of Timken in the 1st quarter valued at about $207,000. Commonwealth Equity Services LLC bought a new position in shares of Timken in the 2nd quarter valued at about $208,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Timken in the 2nd quarter valued at about $226,000. Institutional investors own 78.35% of the company’s stock.

Timken stock traded down $1.51 during midday trading on Friday, reaching $41.46. 12,751 shares of the company’s stock were exchanged, compared to its average volume of 793,759. Timken Co has a 52 week low of $33.98 and a 52 week high of $52.45. The company has a current ratio of 2.68, a quick ratio of 1.47 and a debt-to-equity ratio of 0.96. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 1.04 and a beta of 1.75. The firm has a 50-day moving average price of $48.13.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.18). The business had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Timken had a return on equity of 21.40% and a net margin of 8.38%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 EPS. On average, sell-side analysts expect that Timken Co will post 4.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.70%. Timken’s dividend payout ratio (DPR) is presently 26.79%.

TKR has been the subject of several analyst reports. ValuEngine cut Timken from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America cut Timken from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Monday, July 15th. Zacks Investment Research upgraded Timken from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Morgan Stanley assumed coverage on Timken in a report on Monday, June 10th. They set an “equal weight” rating and a $54.00 price target for the company. Finally, Goldman Sachs Group upgraded Timken from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $56.00 in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.75.

Timken Profile

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission 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 power transmission 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.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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