Mirabella Financial Services LLP Makes New Investment in The Timken Company (NYSE:TKR)

Mirabella Financial Services LLP bought a new position in shares of The Timken Company (NYSE:TKR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,278 shares of the industrial products company’s stock, valued at approximately $2,215,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Interval Partners LP bought a new position in shares of Timken in the first quarter worth about $22,907,000. American Century Companies Inc. boosted its stake in Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after acquiring an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after acquiring an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Timken in the 2nd quarter worth $6,897,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Performance

NYSE TKR opened at $76.56 on Monday. The firm has a 50-day moving average price of $81.45 and a two-hundred day moving average price of $82.80. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71. The company has a market capitalization of $5.37 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.13 and a beta of 1.43. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

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

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, November 19th. Timken’s payout ratio is 28.27%.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TKR. Citigroup initiated coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday. Oppenheimer lowered their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. DA Davidson lowered their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.00.

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.