Meeder Asset Management Inc. trimmed its position in Timken Co (NYSE:TKR) by 33.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,026 shares of the industrial products company’s stock after selling 9,455 shares during the quarter. Meeder Asset Management Inc.’s holdings in Timken were worth $978,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Strs Ohio lifted its holdings in shares of Timken by 7.9% in the 1st quarter. Strs Ohio now owns 7,714 shares of the industrial products company’s stock worth $336,000 after acquiring an additional 563 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Timken by 2.3% in the 1st quarter. Texas Permanent School Fund now owns 46,301 shares of the industrial products company’s stock worth $2,020,000 after acquiring an additional 1,034 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in shares of Timken by 22.1% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 41,455 shares of the industrial products company’s stock worth $2,128,000 after acquiring an additional 7,490 shares during the last quarter. Mork Capital Management LLC acquired a new position in shares of Timken in the 1st quarter worth approximately $1,745,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Timken in the 2nd quarter worth approximately $949,000. Institutional investors own 80.46% of the company’s stock.
Timken stock traded up $0.20 during mid-day trading on Wednesday, reaching $40.20. 5,031 shares of the company’s stock were exchanged, compared to its average volume of 749,756. The company has a market cap of $3.04 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.96 and a beta of 1.75. Timken Co has a twelve month low of $33.98 and a twelve month high of $52.45. The company has a quick ratio of 1.47, a current ratio of 2.68 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $45.77 and a 200-day moving average of $45.91.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.12 dividend on an annualized basis and a yield of 2.79%. Timken’s dividend payout ratio (DPR) is presently 26.79%.
Several equities analysts have recently commented on TKR shares. ValuEngine lowered shares of Timken from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley started coverage on shares of Timken in a report on Monday, June 10th. They set an “equal weight” rating and a $54.00 target price on the stock. Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Goldman Sachs Group upgraded shares of Timken from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $56.00 in a report on Tuesday, July 16th. Finally, Bank of America lowered shares of Timken from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Timken currently has an average rating of “Hold” and a consensus price target of $55.75.
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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