Timken Co (NYSE:TKR) CFO Philip D. Fracassa sold 3,582 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $48.39, for a total value of $173,332.98. Following the completion of the sale, the chief financial officer now directly owns 43,534 shares of the company’s stock, valued at $2,106,610.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 

Shares of NYSE TKR opened at $48.25 on Tuesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 18.35, a PEG ratio of 0.77 and a beta of 1.60. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57. Timken Co has a 52-week low of $41.85 and a 52-week high of $55.65. 

Timken (NYSE:TKR) last announced its earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $906.30 million during the quarter, compared to analysts’ expectations of $904.77 million. Timken had a return on equity of 18.39% and a net margin of 7.60%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. research analysts forecast that Timken Co will post 4.17 earnings per share for the current fiscal year. 
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Friday, August 17th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 2.32%. Timken’s payout ratio is 42.59%. 

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Timken by 1.0% during the 2nd quarter. BlackRock Inc. now owns 6,030,610 shares of the industrial products company’s stock worth $262,632,000 after acquiring an additional 60,473 shares during the period. Earnest Partners LLC lifted its position in Timken by 1.8% during the 1st quarter. Earnest Partners LLC now owns 1,966,488 shares of the industrial products company’s stock worth $89,672,000 after acquiring an additional 34,121 shares during the period. Boston Partners lifted its position in Timken by 2.6% during the 2nd quarter. Boston Partners now owns 1,944,278 shares of the industrial products company’s stock worth $84,673,000 after acquiring an additional 48,733 shares during the period. Dimensional Fund Advisors LP lifted its position in Timken by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,788,248 shares of the industrial products company’s stock worth $77,879,000 after acquiring an additional 93,934 shares during the period. Finally, LSV Asset Management lifted its position in Timken by 4.2% during the 2nd quarter. LSV Asset Management now owns 1,535,875 shares of the industrial products company’s stock worth $66,887,000 after acquiring an additional 61,800 shares during the period. 77.33% of the stock is owned by institutional investors. 

A number of brokerages recently issued reports on TKR. KeyCorp upped their target price on Timken from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. ValuEngine raised Timken from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 28th. CL King began coverage on Timken in a research report on Thursday, June 28th. They issued a “neutral” rating for the company. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a research report on Wednesday, August 8th. Finally, Vertical Research raised Timken from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.40.

About Timken

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and 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.