Insider Selling: The Timken Company (NYSE:TKR) EVP Sells 29,006 Shares of Stock

The Timken Company (NYSE:TKR) EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the transaction, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Timken Stock Performance

Timken stock opened at $89.82 on Thursday. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The company has a market capitalization of $6.32 billion, a PE ratio of 17.11, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a 50 day moving average price of $86.53 and a 200-day moving average price of $80.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87.

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

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.51%. This is a positive change from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is currently 25.14%.

Hedge Funds Weigh In On Timken

A number of hedge funds and other institutional investors have recently modified their holdings of TKR. William Blair Investment Management LLC boosted its position in Timken by 3.7% during the 1st quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 213 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Timken by 29.4% in the first quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after purchasing an additional 31,552 shares during the last quarter. Qsemble Capital Management LP bought a new position in Timken in the first quarter worth about $415,000. QRG Capital Management Inc. lifted its position in shares of Timken by 2.0% during the first quarter. QRG Capital Management Inc. now owns 49,174 shares of the industrial products company’s stock valued at $4,299,000 after buying an additional 979 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Timken by 26.4% in the 1st quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock valued at $34,462,000 after buying an additional 82,382 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. DA Davidson assumed coverage on Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target for the company. StockNews.com cut shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Timken currently has a consensus rating of “Hold” and an average price target of $87.09.

Timken Company 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.