WCM Investment Management LLC Buys 382 Shares of The Timken Company (NYSE:TKR)

by · The Markets Daily

WCM Investment Management LLC increased its stake in The Timken Company (NYSE:TKR – Free Report) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,302 shares of the industrial products company’s stock after purchasing an additional 382 shares during the period. WCM Investment Management LLC owned approximately 0.30% of Timken worth $17,784,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC grew its position in Timken by 230.7% during the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 759 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Timken by 3.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 23,397 shares of the industrial products company’s stock valued at $1,972,000 after acquiring an additional 753 shares during the last quarter. Covestor Ltd grew its position in Timken by 20.0% during the third quarter. Covestor Ltd now owns 1,786 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 298 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Timken by 3.8% during the third quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 168 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new position in Timken during the third quarter valued at approximately $348,000. 89.08% of the stock is currently owned by institutional investors.

Timken Trading Down 0.5 %

TKR stock traded down $0.37 on Monday, reaching $76.48. The company’s stock had a trading volume of 103,382 shares, compared to its average volume of 483,356. The business has a fifty day simple moving average of $82.41 and a two-hundred day simple moving average of $83.73. The Timken Company has a 12-month low of $70.15 and a 12-month high of $94.71. The firm has a market cap of $5.36 billion, a PE ratio of 15.98, a PEG ratio of 1.14 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.64 and a current ratio of 3.00.

Timken (NYSE:TKR – Get Free Report) last posted 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). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 EPS. As a group, research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on TKR. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. Oppenheimer dropped their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. DA Davidson dropped their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp dropped their price objective on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.60.

Read Our Latest Report on Timken

Timken Company Profile

(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.

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