Coastline Trust Co Takes $29,000 Position in The Timken Company (NYSE:TKR)

Coastline Trust Co acquired a new position in The Timken Company (NYSE:TKR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 341 shares of the industrial products company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Timken in the second quarter worth $30,000. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 343 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Timken in the third quarter worth approximately $32,000. UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 168 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Timken during the second quarter valued at approximately $44,000. 89.08% of the stock is owned by institutional investors.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the 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 completion of the transaction, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Price Performance

Shares of Timken stock opened at $75.59 on Monday. The stock’s 50-day simple moving average is $81.89 and its 200-day simple moving average is $83.33. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.12 and a beta of 1.43. The Timken Company has a 52 week low of $71.57 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.

Timken (NYSE:TKR) last released its quarterly earnings data 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 the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, analysts expect that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, November 19th. Timken’s payout ratio is presently 28.27%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. KeyCorp reduced their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Oppenheimer reduced their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, DA Davidson dropped their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.00.

About Timken

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.