Stock Traders Buy Large Volume of Timken Call Options (NYSE: TKR)
Timken Company (NYSE: TKR) was the target of unusual option trades on Friday. Traders acquired 3,012 call options on the company. This is an increase of approximately 1,651% over the average daily volume of 172 call options.
A number of hedge funds have recently changed their positions in the title. JPMorgan Chase & Co. increased its stake in The Timken shares by 223.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,328,178 shares of the industrials company valued at $ 188,978,000 after purchasing an additional 1,609,045 shares during the period. Alliancebernstein LP increased its stake in The Timken shares by 1,240.1% in the second quarter. Alliancebernstein LP now owns 1,425,845 shares of the industrial products company valued at $ 114,909,000 after purchasing an additional 1,319,449 shares during the period. American Century Companies Inc. increased its holdings of The Timken shares by 72.3% in the 2nd quarter. American Century Companies Inc. now owns 2,122,924 shares of the industrial products company valued at $ 171,086,000 after purchasing an additional 890,914 shares during the period. Amundi acquired a new position in The Timken shares in the 2nd quarter valued at approximately $ 49,386,000. Finally, Federated Hermes Inc. increased its stake in The Timken shares by 181.7% in the first quarter. Federated Hermes Inc. now owns 916,344 shares of the industrials company valued at $ 74,380,000 after purchasing an additional 591,040 shares during the period. Hedge funds and other institutional investors hold 80.33% of the company’s shares.
NYSE TKR traded up $ 2.19 in Friday’s session, reaching $ 67.61. 9,525 shares of the stock were traded, compared to its average volume of 560,031. The company has a market capitalization of $ 5.16 billion, a P / E ratio of 13.98, a price / earnings ratio -growth of 6.83 and a beta of 1.72. The company has a 50-day simple moving average of $ 73.13 and a 200-day simple moving average of $ 79.72. The company has a quick ratio of 1.49, a current ratio of 2.56, and a debt ratio of 0.60. The Timken has a 12-month low of $ 52.71 and a 12-month high of $ 92.39.
The Timken (NYSE: TKR) last published its results on Sunday, August 1. The industrials company reported earnings per share of $ 1.37 for the quarter, missing Zacks’ consensus estimate of $ 1.44 per ($ 0.07). The Timken had a net margin of 9.29% and a return on equity of 16.29%. The company posted revenue of $ 1.06 billion for the quarter, compared to a consensus estimate of $ 1.05 billion. During the same period last year, the company achieved earnings per share of $ 1.02. The company’s revenue for the quarter increased 32.3% year-over-year. As a group, research analysts predict The Timken will post 5.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 3. Investors of record on Friday August 20 received a dividend of $ 0.30 per share. The ex-dividend date was Thursday August 19. This represents an annualized dividend of $ 1.20 and a return of 1.77%. Timken’s dividend payout ratio (DPR) is 29.27%.
A number of research companies have weighed in on TKR. KeyCorp reduced its target price on The Timken from $ 95.00 to $ 84.00 and set an “overweight” rating for the company in a report released Monday. Evercore ISI lowered its target price on The Timken from $ 87.00 to $ 78.00 in a research report on Thursday, September 16. Morgan Stanley lowered its price target on The Timken from $ 91.00 to $ 84.00 and set an “equal weight” rating for the company in a research report released on Monday, August 9. Jefferies Financial Group lowered its price target on The Timken from $ 110.00 to $ 100.00 and set a “buy” rating for the company in a research report on Thursday, September 16. Finally, Loop Capital began covering The Timken in a research report on Wednesday, September 22. They issued a “conservation” rating and a price target of $ 72.00 for the company. Four analysts rated the stock with a conservation rating and six gave the company’s stock a buy rating. Based on data from MarketBeat.com, The Timken has a consensus rating of “Buy” and an average price target of $ 87.00.
The Timken Co is engaged in the engineering, manufacturing and marketing of bearings and power transmission products. It offers gearboxes, belts, chains, lubrication systems, couplings, clutches and industrial brakes. It operates through the segments of mobile industries and processing industries. The Mobile Industries segment serves OEM customers who manufacture off-road equipment for the agriculture, mining and construction markets; road vehicles, including passenger cars, light trucks, and medium and heavy trucks; wagons and locomotives; outdoor electrical equipment; and rotorcraft and fixed-wing aircraft.
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