Timken Co (NYSE:TKR) Insider Sells $50,950.55 in Stock
Timken Co (NYSE:TKR) insider Shelly Marie Chadwick sold 1,043 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total value of $50,950.55. Following the transaction, the insider now directly owns 3,102 shares of the company’s stock, valued at $151,532.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
TKR traded up $0.35 during trading on Friday, hitting $48.10. 601,662 shares of the stock were exchanged, compared to its average volume of 464,049. The company has a market capitalization of $3.70 billion, a P/E ratio of 13.66, a PEG ratio of 0.77 and a beta of 1.60. Timken Co has a 1 year low of $41.85 and a 1 year high of $55.65. 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 (NYSE:TKR) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.03. The business 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%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. equities analysts anticipate that Timken Co will post 4.17 earnings per share for the current year.
TKR has been the subject of several analyst reports. Stifel Nicolaus raised Timken from a “hold” rating to a “buy” rating and raised their price objective for the company from $52.00 to $60.00 in a research note on Monday, May 28th. ValuEngine lowered Timken from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Bank of America raised their price objective on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a research note on Tuesday, May 22nd. KeyCorp raised Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 price objective for the company in a research note on Wednesday, June 27th. Finally, CL King started coverage on Timken in a research note on Thursday, June 28th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.40.
Institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Timken by 1,368.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 2,052 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Timken in the 2nd quarter valued at about $123,000. Integrated Investment Consultants LLC acquired a new position in shares of Timken in the 2nd quarter valued at about $218,000. Palouse Capital Management Inc. acquired a new position in shares of Timken in the 2nd quarter valued at about $222,000. Finally, Pitcairn Co. acquired a new position in shares of Timken in the 2nd quarter valued at about $233,000. 78.43% of the stock is owned by hedge funds and other institutional investors.
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.
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