Sanctuary Advisors LLC Has $1.57 Million Holdings in The Timken Company (NYSE:TKR)

20 Dec 2024, 10:24 by Sarita Garza · The Markets Daily

Sanctuary Advisors LLC lifted its position in shares of The Timken Company (NYSE:TKR – Free Report) by 26.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,672 shares of the industrial products company’s stock after purchasing an additional 3,884 shares during the quarter. Sanctuary Advisors LLC’s holdings in Timken were worth $1,574,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TKR. American Century Companies Inc. raised its holdings in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $168,667,000 after acquiring an additional 97,550 shares during the last quarter. State Street Corp lifted its position in Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after acquiring an additional 66,208 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Timken by 34.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after purchasing an additional 434,800 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Performance

NYSE TKR opened at $70.76 on Friday. The company’s 50 day simple moving average is $78.91 and its two-hundred day simple moving average is $81.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The Timken Company has a 1 year low of $70.37 and a 1 year high of $94.71. The stock has a market capitalization of $4.96 billion, a PE ratio of 14.71, a P/E/G ratio of 1.12 and a beta of 1.38.

Timken (NYSE:TKR – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $1.55 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts predict that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s payout ratio is 28.27%.

Insider Buying and Selling

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, the director now directly 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 legal filing with the SEC, which is accessible through this link. 8.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on TKR. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Oppenheimer dropped their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Morgan Stanley raised shares of Timken from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $82.00 to $93.00 in a research report on Tuesday. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Timken presently has a consensus rating of “Moderate Buy” and an average price target of $92.90.

Read Our Latest Report on Timken

About Timken

(Free Report)

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.