Victory Capital Management Inc. Buys 41,644 Shares of Timken Company (The) (NYSE:TKR)

Victory Capital Management Inc. lifted its position in shares of Timken Company (The) (NYSE:TKR) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 681,617 shares of the industrial products company’s stock after acquiring an additional 41,644 shares during the period. Victory Capital Management Inc. owned approximately 0.88% of Timken Company (The) worth $31,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC increased its position in Timken Company (The) by 105.0% in the 2nd quarter. TrimTabs Asset Management LLC now owns 6,374 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 3,264 shares during the period. Federated Investors Inc. PA increased its position in Timken Company (The) by 41.0% in the 2nd quarter. Federated Investors Inc. PA now owns 52,330 shares of the industrial products company’s stock valued at $2,420,000 after acquiring an additional 15,217 shares during the period. Marshall Wace North America L.P. acquired a new position in Timken Company (The) in the 2nd quarter valued at approximately $1,205,000. BNP Paribas Arbitrage SA increased its position in Timken Company (The) by 62.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 29,233 shares of the industrial products company’s stock valued at $1,352,000 after acquiring an additional 11,253 shares during the period. Finally, Legal & General Group Plc increased its position in Timken Company (The) by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 88,879 shares of the industrial products company’s stock valued at $4,110,000 after acquiring an additional 10,985 shares during the period. Institutional investors and hedge funds own 79.62% of the company’s stock.

Shares of Timken Company (NYSE TKR) traded up 1.19% during midday trading on Friday, reaching $46.85. 996,832 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $44.54 and its 200 day moving average price is $45.58. The firm has a market capitalization of $3.65 billion, a PE ratio of 23.25 and a beta of 1.37. Timken Company has a one year low of $31.60 and a one year high of $51.75.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 22nd were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.31%. Timken Company (The)’s dividend payout ratio is currently 51.67%.

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Several research analysts recently issued reports on the stock. BidaskClub lowered shares of Timken Company (The) from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Goldman Sachs Group, Inc. (The) lowered shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $55.00 to $51.00 in a research report on Monday, August 7th. Stifel Nicolaus restated a “hold” rating and set a $53.00 price objective on shares of Timken Company (The) in a report on Friday, June 30th. ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Timken Company (The) currently has a consensus rating of “Hold” and an average target price of $46.83.

About Timken Company (The)

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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