Timken Co (TKR) Holdings Raised by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD raised its position in Timken Co (NYSE:TKR) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,004 shares of the industrial products company’s stock after acquiring an additional 19,424 shares during the period. Mondrian Investment Partners LTD owned approximately 0.13% of Timken worth $4,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Chicago Equity Partners LLC lifted its stake in shares of Timken by 528.0% during the third quarter. Chicago Equity Partners LLC now owns 39,500 shares of the industrial products company’s stock worth $1,969,000 after buying an additional 33,210 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Timken by 23.3% during the third quarter. Victory Capital Management Inc. now owns 1,384,005 shares of the industrial products company’s stock worth $68,993,000 after buying an additional 261,313 shares during the period. WBI Investments Inc. acquired a new stake in shares of Timken during the third quarter worth $6,596,000. Arizona State Retirement System lifted its stake in shares of Timken by 3.9% during the third quarter. Arizona State Retirement System now owns 49,275 shares of the industrial products company’s stock worth $2,456,000 after buying an additional 1,866 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Timken during the third quarter worth $17,907,000. Institutional investors own 77.51% of the company’s stock.

Shares of Timken stock opened at $40.60 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.72 and a quick ratio of 1.30. Timken Co has a 1 year low of $34.90 and a 1 year high of $55.65. The firm has a market cap of $3.12 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.65 and a beta of 1.86.

Timken (NYSE:TKR) last issued its earnings results on Monday, October 29th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). Timken had a return on equity of 19.58% and a net margin of 7.89%. The business had revenue of $881.30 million for the quarter, compared to analysts’ expectations of $912.58 million. During the same period last year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts anticipate that Timken Co will post 4.18 earnings per share for the current fiscal year.

In related news, CFO Philip D. Fracassa sold 3,582 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $48.39, for a total transaction of $173,332.98. Following the completion of the transaction, the chief financial officer now owns 43,534 shares of the company’s stock, valued at $2,106,610.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shelly Marie Chadwick sold 1,043 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $48.85, for a total transaction of $50,950.55. Following the transaction, the insider now directly owns 3,102 shares of the company’s stock, valued at approximately $151,532.70. The disclosure for this sale can be found here. Company insiders own 11.15% of the company’s stock.

Several research firms have recently commented on TKR. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a research note on Wednesday, August 8th. KeyCorp lifted their price objective on shares of Timken from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Timken from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 28th. Goldman Sachs Group began coverage on shares of Timken in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $56.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Saturday, October 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.20.

Timken Profile

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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