Timken Company (The) (NYSE:TKR) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Tuesday, August 22nd will be paid a dividend of 0.27 per share by the industrial products company on Friday, September 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, August 18th.
Timken Company (The) has increased its dividend by an average of 4.2% annually over the last three years and has increased its dividend every year for the last 3 years. Timken Company (The) has a payout ratio of 41.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Timken Company (The) to earn $3.01 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 35.9%.
Timken Company (NYSE TKR) traded down 0.53% during trading on Friday, hitting $42.80. 437,653 shares of the stock were exchanged. Timken Company has a 52 week low of $31.60 and a 52 week high of $51.75. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 21.24 and a beta of 1.38. The firm has a 50-day moving average of $46.18 and a 200-day moving average of $45.55.
Timken Company (The) (NYSE:TKR) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Timken Company (The) had a return on equity of 12.73% and a net margin of 5.98%. The company had revenue of $750.60 million for the quarter, compared to the consensus estimate of $716.50 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. Timken Company (The)’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Timken Company will post $2.57 earnings per share for the current fiscal year.
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In other Timken Company (The) news, Director Jacqueline F. Woods sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $46.02, for a total transaction of $59,826.00. Following the completion of the transaction, the director now owns 19,249 shares in the company, valued at approximately $885,838.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.08% of the company’s stock.
A number of research firms have weighed in on TKR. BidaskClub downgraded Timken Company (The) from a “sell” rating to a “strong sell” rating in a report on Friday. Goldman Sachs Group, Inc. (The) downgraded Timken Company (The) from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $55.00 to $51.00 in a research note on Monday, August 7th. ValuEngine raised Timken Company (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Timken Company (The) in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Timken Company (The) presently has an average rating of “Hold” and a consensus price target of $46.83.
About Timken Company (The)
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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