First Trust Advisors LP trimmed its stake in Timken Co (NYSE:TKR) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,413 shares of the industrial products company’s stock after selling 18,572 shares during the period. First Trust Advisors LP owned 0.31% of Timken worth $10,601,000 at the end of the most recent quarter. 

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TKR. Integrated Investment Consultants LLC purchased a new stake in Timken during the 2nd quarter valued at about $220,000. Dana Investment Advisors Inc. purchased a new stake in shares of Timken in the second quarter worth about $2,038,000. Dupont Capital Management Corp purchased a new stake in shares of Timken in the second quarter worth about $3,040,000. Hendley & Co. Inc. purchased a new stake in shares of Timken in the second quarter worth about $542,000. Finally, Palouse Capital Management Inc. purchased a new stake in shares of Timken in the second quarter worth about $222,000. 79.20% of the stock is owned by hedge funds and other institutional investors. 

TKR has been the topic of a number of recent research reports. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Vertical Research upgraded Timken from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and set a $56.00 target price on the stock in a research note on Wednesday, August 8th. KeyCorp upgraded Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 target price on the stock in a research note on Wednesday, June 27th. Finally, CL King initiated coverage on Timken in a research note on Thursday, June 28th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Timken has a consensus rating of “Buy” and a consensus price target of $55.40.

Shares of TKR opened at $47.95 on Thursday. Timken Co has a 52 week low of $41.85 and a 52 week high of $55.65. The company has a current ratio of 2.39, a quick ratio of 1.30 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.68 billion, a PE ratio of 18.23, a P/E/G ratio of 0.77 and a beta of 1.60. 

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $906.30 million for the quarter, compared to the consensus estimate of $904.77 million. Timken had a return on equity of 18.39% and a net margin of 7.60%. Timken’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 earnings per share. research analysts predict that Timken Co will post 4.17 EPS for the current fiscal year. 

The firm also recently declared 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 2.34%. Timken’s dividend payout ratio is currently 42.59%. 

In other Timken news, Director Ward J. Timken, Jr. sold 4,002 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total transaction of $196,498.20. Following the transaction, the director now owns 269,902 shares in the company, valued at $13,252,188.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelly Marie Chadwick sold 1,043 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $48.85, for a total value of $50,950.55. Following the transaction, the insider now owns 3,102 shares in the company, valued at approximately $151,532.70. The disclosure for this sale can be found here. Insiders have sold 8,627 shares of company stock worth $420,782 in the last quarter. 11.15% of the stock is currently owned by company insiders.