Pacer Advisors Inc. Acquires 27,109 Shares of Timken Co (NYSE:TKR)

Pacer Advisors Inc. lifted its holdings in Timken Co (NYSE:TKR) by 9,613.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,391 shares of the industrial products company’s stock after buying an additional 27,109 shares during the period. Pacer Advisors Inc.’s holdings in Timken were worth $1,406,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Timken by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,159,524 shares of the industrial products company’s stock valued at $80,593,000 after purchasing an additional 197,312 shares during the last quarter. LSV Asset Management grew its holdings in Timken by 0.4% during the 1st quarter. LSV Asset Management now owns 1,677,475 shares of the industrial products company’s stock valued at $73,171,000 after purchasing an additional 7,200 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Timken by 29.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,441,088 shares of the industrial products company’s stock valued at $73,983,000 after purchasing an additional 329,553 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Timken by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,399,936 shares of the industrial products company’s stock valued at $71,872,000 after purchasing an additional 328,968 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Timken by 91.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,209,106 shares of the industrial products company’s stock valued at $62,076,000 after purchasing an additional 577,669 shares during the last quarter. Hedge funds and other institutional investors own 78.50% of the company’s stock.

In related news, Director John M. Timken, Jr. acquired 5,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was bought at an average cost of $38.04 per share, with a total value of $190,200.00. Following the transaction, the director now directly owns 397,734 shares in the company, valued at $15,129,801.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.58% of the stock is owned by insiders.

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

Timken stock traded up $0.19 during trading hours on Friday, hitting $44.62. The company had a trading volume of 10,814 shares, compared to its average volume of 543,527. The firm has a market cap of $3.37 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.07 and a beta of 1.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.47 and a current ratio of 2.68. Timken Co has a 1 year low of $33.98 and a 1 year high of $52.45. The company has a 50-day moving average price of $42.06 and a two-hundred day moving average price of $45.61.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.18). The company had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Timken had a net margin of 8.38% and a return on equity of 21.40%. Timken’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. As a group, equities research analysts anticipate that Timken Co will post 4.87 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.28 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.12 annualized dividend and a yield of 2.51%. Timken’s dividend payout ratio (DPR) is 26.79%.

Timken Company 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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