The Timken Co. (TKR) Issues Earnings Results

The Timken Co. (TKR) Issues  Earnings Results

Timken Co. (NYSE:TKR) released its quarterly earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $657.40 million for the quarter, compared to the consensus estimate of $1.28 billion. Timken had a net margin of 3.40% and a return on equity of 12.38%. Timken’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. Timken updated its FY16 guidance to $1.92-1.98 EPS.

Shares of Timken (NYSE:TKR) opened at 32.98 on Monday. The firm has a 50-day moving average of $33.95 and a 200 day moving average of $33.42. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 28.46 and a beta of 1.64. Timken has a 52-week low of $22.22 and a 52-week high of $37.07.

In other news, CFO Philip D. Fracassa sold 2,229 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $34.27, for a total value of $76,387.83. Following the sale, the chief financial officer now directly owns 30,784 shares in the company, valued at approximately $1,054,967.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William R. Burkhart sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $34.37, for a total transaction of $145,556.95. Following the completion of the sale, the executive vice president now owns 40,607 shares in the company, valued at $1,395,662.59. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Raymond James Trust N.A. increased its stake in Timken by 0.5% in the third quarter. Raymond James Trust N.A. now owns 7,378 shares of the company’s stock worth $260,000 after buying an additional 37 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Timken by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,919 shares of the company’s stock valued at $500,000 after buying an additional 115 shares in the last quarter. Alpha Windward LLC increased its stake in Timken by 1.0% in the second quarter. Alpha Windward LLC now owns 13,387 shares of the company’s stock valued at $410,000 after buying an additional 127 shares in the last quarter. Security National Bank of Sioux City Iowa IA increased its stake in Timken by 0.7% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 23,687 shares of the company’s stock valued at $727,000 after buying an additional 160 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Timken by 1.9% in the second quarter. Amalgamated Bank now owns 9,539 shares of the company’s stock valued at $323,000 after buying an additional 182 shares in the last quarter. Institutional investors own 75.95% of the company’s stock.

TKR has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “hold” rating in a report on Thursday, September 29th. Avondale Partners upgraded shares of Timken from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.33.

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