Timken Co (NYSE:TKR) Short Interest Down 15.1% in July
Timken Co (NYSE:TKR) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,145,500 shares, a decrease of 15.1% from the June 15th total of 1,349,400 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 667,700 shares, the short-interest ratio is currently 1.7 days.
Shares of NYSE:TKR traded up $0.40 on Monday, hitting $48.40. The company had a trading volume of 760,961 shares, compared to its average volume of 699,328. The stock’s 50-day moving average is $48.86. Timken has a 1 year low of $33.98 and a 1 year high of $52.45. The company has a quick ratio of 1.58, a current ratio of 2.81 and a debt-to-equity ratio of 1.07. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.77.
Timken (NYSE:TKR) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $979.70 million during the quarter, compared to analysts’ expectations of $983.81 million. During the same period last year, the company posted $1.01 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts forecast that Timken will post 5.24 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of Timken by 17.7% in the 1st quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 365 shares during the period. Machina Capital S.A.S. bought a new position in shares of Timken in the 2nd quarter worth about $138,000. Iberiabank Corp bought a new position in shares of Timken in the 2nd quarter worth about $203,000. World Asset Management Inc bought a new position in shares of Timken in the 1st quarter worth about $207,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Timken in the 2nd quarter worth about $208,000. 78.12% of the stock is owned by hedge funds and other institutional investors.
TKR has been the subject of several analyst reports. Bank of America set a $68.00 price target on shares of Inphi and gave the company a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Saturday, July 13th. ValuEngine raised shares of WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Morgan Stanley set a $143.00 price target on shares of FedEx and gave the company a “hold” rating in a research report on Monday, June 10th. Finally, Goldman Sachs Group cut shares of Micro Focus International from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.60.
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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