BB&T Corp reduced its stake in Timken Co (NYSE:TKR) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,483 shares of the industrial products company’s stock after selling 19,544 shares during the quarter. BB&T Corp owned about 0.20% of Timken worth $6,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 

Several other institutional investors have also recently modified their holdings of TKR. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Timken by 1,368.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 2,052 shares during the last quarter. Bank of Montreal Can purchased a new stake in Timken in the second quarter valued at about $123,000. Matarin Capital Management LLC acquired a new stake in Timken during the first quarter worth about $271,000. Alps Advisors Inc. acquired a new stake in Timken in the second quarter valued at approximately $286,000. Finally, Advisor Group Inc. grew its holdings in Timken by 33.6% in the fourth quarter. Advisor Group Inc. now owns 5,903 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 1,484 shares during the period. Hedge funds and other institutional investors own 76.73% of the company’s stock. 

Timken opened at $48.20 on Monday, MarketBeat Ratings reports. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.71 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.77 and a beta of 1.60. Timken Co has a 1 year low of $41.85 and a 1 year high of $55.65. 

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.03. The firm had revenue of $906.30 million during the quarter, compared to the consensus estimate of $904.77 million. Timken had a return on equity of 18.39% and a net margin of 7.60%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. research analysts forecast that Timken Co will post 4.17 earnings per share for the current year. 

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Friday, August 17th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 16th. Timken’s dividend payout ratio is currently 42.59%. 

In related news, Director Ward J. Timken, Jr. sold 4,002 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total value of $196,498.20. Following the sale, the director now owns 269,902 shares in the company, valued at approximately $13,252,188.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.15% of the company’s stock. 

A number of analysts have recently issued reports on TKR shares. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a research note on Wednesday, August 8th. KeyCorp lifted their price objective on Timken from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 1st. ValuEngine upgraded Timken from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 28th. CL King initiated coverage on Timken in a research report on Thursday, June 28th. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus upgraded Timken from a “hold” rating to a “buy” rating and lifted their target price for the company from $52.00 to $60.00 in a research report on Monday, May 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.40.

About Timken

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.