Arkadios Wealth Advisors Invests $833,000 in The Timken Company (NYSE:TKR)

Arkadios Wealth Advisors bought a new position in shares of The Timken Company (NYSE:TKR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,393 shares of the industrial products company’s stock, valued at approximately $833,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank boosted its holdings in Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock valued at $5,154,000 after acquiring an additional 7,160 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares during the period. Fiduciary Management Inc. WI raised its stake in Timken by 94.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after buying an additional 551,097 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Timken in the fourth quarter valued at $1,667,000. Finally, BNP Paribas bought a new stake in Timken during the first quarter valued at $1,144,000. 89.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares in the company, valued at $19,671,263.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

TKR has been the subject of several recent analyst reports. Raymond James began coverage on shares of Timken in a research report on Friday, June 28th. They set a “market perform” rating for the company. KeyCorp raised their target price on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Loop Capital upped their price target on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Stifel Nicolaus upped their target price on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and an average price target of $88.18.

Timken Stock Up 1.0 %

NYSE TKR traded up $0.85 during mid-day trading on Thursday, reaching $83.79. The stock had a trading volume of 292,796 shares, compared to its average volume of 471,920. The company has a fifty day moving average price of $82.31 and a 200 day moving average price of $84.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71. The stock has a market cap of $5.88 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.82 and a beta of 1.46.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts expect that The Timken Company will post 6.13 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, August 20th. Timken’s dividend payout ratio is 25.90%.

Timken Company 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.