Gamco Investors INC. ET AL Has $873,000 Position in Timken Co (TKR)
Gamco Investors INC. ET AL lifted its stake in shares of Timken Co (NYSE:TKR) by 10.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,022 shares of the industrial products company’s stock after buying an additional 1,870 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Timken were worth $873,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its stake in Timken by 3.3% during the 4th quarter. BlackRock Inc. now owns 6,254,286 shares of the industrial products company’s stock valued at $233,409,000 after purchasing an additional 200,956 shares in the last quarter. Boston Partners grew its stake in Timken by 8.5% during the 4th quarter. Boston Partners now owns 3,470,903 shares of the industrial products company’s stock valued at $129,534,000 after purchasing an additional 272,796 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Timken by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,159,524 shares of the industrial products company’s stock worth $80,593,000 after acquiring an additional 197,312 shares in the last quarter. LSV Asset Management grew its position in shares of Timken by 1.0% in the 4th quarter. LSV Asset Management now owns 1,670,275 shares of the industrial products company’s stock worth $62,334,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Timken by 17.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,620,972 shares of the industrial products company’s stock worth $60,495,000 after acquiring an additional 236,967 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.
In other Timken news, EVP Ronald J. Myers sold 13,191 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $50.77, for a total value of $669,707.07. Following the completion of the sale, the executive vice president now owns 18,987 shares of the company’s stock, valued at $963,969.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shelly Marie Chadwick sold 2,400 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.44, for a total value of $123,456.00. Following the completion of the sale, the insider now directly owns 1,443 shares of the company’s stock, valued at approximately $74,227.92. The disclosure for this sale can be found here. 11.58% of the stock is owned by insiders.
Timken (NYSE:TKR) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. Timken had a return on equity of 21.51% and a net margin of 8.55%. The company had revenue of $979.70 million for the quarter, compared to analyst estimates of $983.81 million. During the same period in the previous year, the firm earned $1.01 earnings per share. Timken’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts predict that Timken Co will post 5.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be given a $0.28 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.33%. Timken’s dividend payout ratio is currently 26.79%.
Several brokerages have recently commented on TKR. ValuEngine lowered Timken from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Zacks Investment Research lowered Timken from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Timken currently has an average rating of “Buy” and a consensus price target of $54.83.
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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