Howe & Rusling Inc. Has $355,000 Position in Timken Co (TKR)

Howe & Rusling Inc. reduced its stake in shares of Timken Co (NYSE:TKR) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,113 shares of the industrial products company’s stock after selling 2,061 shares during the quarter. Howe & Rusling Inc.’s holdings in Timken were worth $355,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in shares of Timken in the 2nd quarter valued at $123,000. Meeder Asset Management Inc. raised its stake in shares of Timken by 3,876.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,738 shares of the industrial products company’s stock valued at $187,000 after buying an additional 3,644 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of Timken in the 2nd quarter valued at $218,000. Fulton Bank N.A. acquired a new position in shares of Timken in the 3rd quarter valued at $221,000. Finally, Palouse Capital Management Inc. acquired a new position in shares of Timken in the 2nd quarter valued at $222,000. Hedge funds and other institutional investors own 78.55% of the company’s stock.

Shares of TKR traded down $0.50 during trading hours on Monday, hitting $40.39. The stock had a trading volume of 2,891 shares, compared to its average volume of 998,318. Timken Co has a 52 week low of $34.90 and a 52 week high of $55.65. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 2.72. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.66 and a beta of 1.86.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, November 19th. Timken’s dividend payout ratio is currently 42.59%.

TKR has been the subject of a number of recent research reports. Zacks Investment Researchupgraded 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. ValuEngine lowered shares of Timken from a “sell” rating to a “strong sell” rating in a report on Friday, October 12th. Goldman Sachs Group initiated coverage on shares of Timken in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $56.00 target price on the stock. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and set a $56.00 target price on the stock in a report on Wednesday, August 8th. Finally, KeyCorp upped their target price on shares of Timken from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.20.

In related news, Director Frank C. Sullivan bought 5,000 shares of the company’s stock in a transaction on Monday, November 5th. The shares were purchased at an average cost of $41.05 per share, for a total transaction of $205,250.00. Following the acquisition, the director now owns 51,932 shares of the company’s stock, valued at approximately $2,131,808.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Shelly Marie Chadwick sold 1,043 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 3,102 shares in the company, valued at $151,532.70. The disclosure for this sale can be found here. 11.15% of the stock is owned by corporate insiders.