Point72 Asia Singapore Pte. Ltd. Acquires 2,777 Shares of The Timken Company (NYSE:TKR)

Point72 Asia Singapore Pte. Ltd. raised its stake in shares of The Timken Company (NYSE:TKR) by 506.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,325 shares of the industrial products company’s stock after acquiring an additional 2,777 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Timken were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Coastline Trust Co purchased a new stake in Timken in the third quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its position in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 343 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Timken in the third quarter worth approximately $32,000. UMB Bank n.a. grew its position in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Timken during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Down 0.4 %

TKR opened at $77.62 on Wednesday. The Timken Company has a 52 week low of $72.35 and a 52 week high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a 50-day simple moving average of $80.85 and a two-hundred day simple moving average of $82.18. The company has a market capitalization of $5.44 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts forecast that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.75%. Timken’s payout ratio is currently 28.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TKR. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, Oppenheimer lowered their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Timken has an average rating of “Hold” and a consensus price target of $90.00.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.70% of the company’s stock.

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.