Timken Co (NYSE:TKR) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,349,400 shares, a decrease of 9.8% from the May 30th total of 1,495,900 shares. Based on an average daily trading volume, of 655,700 shares, the short-interest ratio is currently 2.1 days. Currently, 2.0% of the company’s stock are short sold.

Shares of TKR stock opened at $48.37 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.81 and a debt-to-equity ratio of 1.07. Timken has a one year low of $33.98 and a one year high of $52.45. The stock’s 50-day moving average is $47.92. The company has a market capitalization of $3.68 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.98 and a beta of 1.77.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.24 by $0.11. Timken had a net margin of 8.55% and a return on equity of 21.51%. The business had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $983.81 million. During the same quarter last year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Timken will post 5.26 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $143.00 price objective on shares of FedEx and gave the company a “hold” rating in a research report on Monday, June 10th. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Saturday. Finally, ValuEngine raised shares of WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.63.

In other Timken news, EVP Ronald J. Myers sold 13,191 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $50.77, for a total value of $669,707.07. Following the completion of the transaction, the executive vice president now directly owns 18,987 shares of the company’s stock, valued at approximately $963,969.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shelly Marie Chadwick sold 2,400 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.44, for a total transaction of $123,456.00. Following the completion of the transaction, the insider now directly owns 1,443 shares of the company’s stock, valued at $74,227.92. The disclosure for this sale can be found here. Corporate insiders own 11.58% of the company’s stock.

Several hedge funds have recently modified their holdings of TKR. Bronfman E.L. Rothschild L.P. lifted its holdings in Timken by 22.4% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,555 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 285 shares during the last quarter. Bank of Montreal Can lifted its holdings in Timken by 17.7% in the first quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 365 shares during the last quarter. World Asset Management Inc bought a new position in Timken in the first quarter worth about $207,000. Xact Kapitalforvaltning AB bought a new position in Timken in the second quarter worth about $226,000. Finally, Investment Partners LTD. bought a new position in Timken in the first quarter worth about $236,000. 77.93% of the stock is currently owned by institutional investors and hedge funds.

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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