Timken Company (The) (NYSE:TKR) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its holdings in Timken Company (The) (NYSE:TKR) by 15.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,225 shares of the industrial products company’s stock after purchasing an additional 1,225 shares during the period. Synovus Financial Corp’s holdings in Timken Company (The) were worth $426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TKR. TrimTabs Asset Management LLC increased its stake in shares of Timken Company (The) by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 3,110 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 1,464 shares during the last quarter. Robecosam AG acquired a new stake in shares of Timken Company (The) in the first quarter valued at about $158,000. US Bancorp DE grew its position in shares of Timken Company (The) by 3.9% in the first quarter. US Bancorp DE now owns 3,872 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 145 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Timken Company (The) in the first quarter valued at about $202,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Timken Company (The) in the first quarter valued at about $210,000. Institutional investors own 79.62% of the company’s stock.

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TKR has been the topic of several research analyst reports. BidaskClub downgraded Timken Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Timken Company (The) from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $53.00 price target on shares of Timken Company (The) in a research note on Friday, June 30th. Finally, Jefferies Group LLC restated a “hold” rating and set a $45.00 price target on shares of Timken Company (The) in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $46.83.

Shares of Timken Company (NYSE:TKR) opened at 46.30 on Friday. Timken Company has a one year low of $31.60 and a one year high of $51.75. The company has a 50 day moving average of $44.52 and a 200-day moving average of $45.57. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 22.98 and a beta of 1.37.

Timken Company (The) (NYSE:TKR) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The business had revenue of $750.60 million during the quarter, compared to analyst estimates of $716.50 million. During the same period in the previous year, the business posted $0.55 earnings per share. Timken Company (The)’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts expect that Timken Company will post $2.57 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 18th. This represents a $1.08 annualized dividend and a yield of 2.33%. Timken Company (The)’s payout ratio is presently 51.67%.

Timken Company (The) Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

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