Cobblestone Capital Advisors LLC NY Takes $266,000 Position in The Timken Company (NYSE:TKR)

Cobblestone Capital Advisors LLC NY purchased a new position in shares of The Timken Company (NYSE:TKR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,161 shares of the industrial products company’s stock, valued at approximately $266,000.

A number of other large investors have also bought and sold shares of TKR. Coastline Trust Co bought a new stake in shares of Timken during the third quarter worth $29,000. Versant Capital Management Inc acquired a new position in Timken during the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC grew its holdings in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in Timken in the 3rd quarter valued at about $32,000. Finally, UMB Bank n.a. raised its stake in shares of Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TKR has been the topic of several research analyst reports. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Citigroup started coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. Oppenheimer dropped their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.00.

Insiders Place Their Bets

In related 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 sale, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of NYSE:TKR opened at $77.45 on Monday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.15 and a beta of 1.43. The firm’s 50 day simple moving average is $80.96 and its 200 day simple moving average is $82.35. 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 fifty-two week low of $72.14 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.76%. Timken’s payout ratio is 28.27%.

Timken Profile

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.