Timken Co Declares Quarterly Dividend of $0.28 (TKR)
Resource from: https://www.fairfieldcurrent.com/2018/08/26/timken-co-tkr-to-issue-quarterly-dividend-of-0-28-on-september-5th.html Likes:147
Aug 27,2018
Timken Co (NYSE:TKR) declared a quarterly dividend on Tuesday, August 7th, RTT News reports. Investors of record on Friday, August 17th will be given a dividend of 0.28 per share by the industrial products company on Wednesday, September 5th. This represents a $1.12 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, August 16th.
Timken has increased its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend every year for the last 4 years. Timken has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Timken to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 24.1%.
TKR opened at $47.55 on Friday. Timken has a 12 month low of $41.85 and a 12 month high of $55.65. The firm has a market cap of $3.70 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.77 and a beta of 1.60. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57.
Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.03. The company 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%. Timken’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. research analysts forecast that Timken will post 4.17 EPS for the current fiscal year.
In other Timken news, CFO Philip D. Fracassa sold 3,582 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $48.39, for a total transaction of $173,332.98. Following the transaction, the chief financial officer now owns 43,534 shares in the company, valued at approximately $2,106,610.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the business’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 transaction, the director now owns 269,902 shares in the company, valued at approximately $13,252,188.20. The disclosure for this sale can be found here. Insiders have sold a total of 8,627 shares of company stock worth $420,782 in the last quarter. 11.15% of the stock is currently owned by insiders.
Several analysts have recently weighed in on the company. Bank of America boosted their target price on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Tuesday, May 22nd. Stifel Nicolaus raised Timken from a “hold” rating to a “buy” rating and boosted their target price for the company from $52.00 to $60.00 in a report on Monday, May 28th. Vertical Research raised Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, KeyCorp raised Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 price objective for the company in a research note on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Timken has a consensus rating of “Buy” and an average price target of $55.40.
TKR opened at $47.55 on Friday. Timken has a 12 month low of $41.85 and a 12 month high of $55.65. The firm has a market cap of $3.70 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.77 and a beta of 1.60. The company has a quick ratio of 1.30, a current ratio of 2.39 and a debt-to-equity ratio of 0.57.
Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.03. The company 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%. Timken’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. research analysts forecast that Timken will post 4.17 EPS for the current fiscal year.
In other Timken news, CFO Philip D. Fracassa sold 3,582 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $48.39, for a total transaction of $173,332.98. Following the transaction, the chief financial officer now owns 43,534 shares in the company, valued at approximately $2,106,610.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the business’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 transaction, the director now owns 269,902 shares in the company, valued at approximately $13,252,188.20. The disclosure for this sale can be found here. Insiders have sold a total of 8,627 shares of company stock worth $420,782 in the last quarter. 11.15% of the stock is currently owned by insiders.
Several analysts have recently weighed in on the company. Bank of America boosted their target price on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Tuesday, May 22nd. Stifel Nicolaus raised Timken from a “hold” rating to a “buy” rating and boosted their target price for the company from $52.00 to $60.00 in a report on Monday, May 28th. Vertical Research raised Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. ValuEngine downgraded Timken from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, KeyCorp raised Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 price objective for the company in a research note on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Timken has a consensus rating of “Buy” and an average price target of $55.40.
(https://www.fairfieldcurrent.com/2018/08/26/timken-co-tkr-to-issue-quarterly-dividend-of-0-28-on-september-5th.html)
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