Versant Capital Management Inc Makes New Investment in The Timken Company (NYSE:TKR)

Versant Capital Management Inc purchased a new position in shares of The Timken Company (NYSE:TKR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 374 shares of the industrial products company’s stock, valued at approximately $30,000.

Several other hedge funds also recently bought and sold shares of the stock. Fidelis Capital Partners LLC acquired a new stake in shares of Timken during the first quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in shares of Timken during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Timken during the fourth quarter worth about $35,000. Finally, Manchester Capital Management LLC lifted its stake in shares of 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 purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TKR. Stifel Nicolaus boosted their price objective on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Raymond James assumed coverage on Timken in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Loop Capital lifted their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Finally, KeyCorp lifted their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.91.

Timken Stock Performance

TKR stock traded up $0.14 during midday trading on Wednesday, reaching $81.16. The company had a trading volume of 51,459 shares, compared to its average volume of 481,098. The company has a quick ratio of 1.02, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $82.75 and a 200 day moving average price of $84.62. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $94.71. The firm has a market capitalization of $5.69 billion, a PE ratio of 15.42, a P/E/G ratio of 1.74 and a beta of 1.46.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 earnings per share. Analysts anticipate that The Timken Company will post 6.14 earnings per share for the current year.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $80.76, for a total value of $2,422,800.00. Following the completion of the sale, the chief executive officer now directly owns 274,485 shares in the company, valued at $22,167,408.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by insiders.

About Timken

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.