Interval Partners LP Makes New Investment in The Timken Company (NYSE:TKR)

Interval Partners LP purchased a new position in shares of The Timken Company (NYSE:TKR) in the 1st quarter, Holdings Channel reports. The firm purchased 262,000 shares of the industrial products company’s stock, valued at approximately $22,907,000.

Other hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in Timken during the first quarter worth $26,000. Livelsberger Financial Advisory purchased a new position in Timken during the fourth quarter worth $30,000. GAMMA Investing LLC purchased a new position in Timken during the fourth quarter worth $35,000. Manchester Capital Management LLC increased its position in Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after buying an additional 205 shares in the last quarter. Finally, Quent Capital LLC increased its position in Timken by 50.4% during the fourth quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock worth $82,000 after buying an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.7 %

Timken stock traded up $0.56 during midday trading on Tuesday, reaching $85.56. The stock had a trading volume of 881,626 shares, compared to its average volume of 477,901. The Timken Company has a twelve month low of $65.71 and a twelve month high of $94.71. The stock has a market capitalization of $6.02 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The stock’s 50-day simple moving average is $83.22 and its 200 day simple moving average is $84.45.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts expect that The Timken Company will post 6.2 EPS for the current year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.34 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.59%. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Insider Activity at Timken

In other Timken news, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now owns 366,799 shares in the company, valued at $32,678,122.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James assumed coverage on Timken in a research report on Friday, June 28th. They set a “market perform” rating for the company. Loop Capital raised their price objective on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. KeyCorp raised their price objective on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Stifel Nicolaus raised their price objective on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.91.

Timken Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.