Independent Portfolio Consultants buys $1,567,742 stake in Timken Co (TKR)

Timken Co (TKR) : Independent Portfolio Consultants scooped up 1,695 additional shares in Timken Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 44,274 shares of Timken Co which is valued at $1,567,742.Timken Co makes up approximately 0.49% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in TKR by selling 24,764 shares or 72.88% in the most recent quarter. The Hedge Fund company now holds 9,215 shares of TKR which is valued at $326,303.

Timken Co closed down -0.32 points or -0.92% at $34.56 with 4,47,605 shares getting traded on Tuesday. Post opening the session at $35, the shares hit an intraday low of $34.48 and an intraday high of $35.23 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Timken Co reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.50. The company had revenue of $674.00 million for the quarter, compared to analysts expectations of $691.51 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on Timken Co. Timken Co was Upgraded by Avondale to ” Mkt Outperform” on Jul 11, 2016.

The Timken Company (Timken) engineers manufactures and markets bearings transmissions gearboxes chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries which offers bearings seals lubrication devices and systems as well as power transmission components engineered chain augers and related products and maintenance services and Process Industries which provides industrial bearings and assemblies power transmission components such as gears and gearboxes couplings seals lubricants chains and related products and services. The Company’s industrial brands include Timken Fafnir Philadelphia Gear Drives and Interlube. The Company sells products and services to the following market sectors: industrial equipment construction agriculture rail aerospace and defense automotive heavy truck and energy.

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