Premier Asset Managment adds Timken Co (TKR) to its portfolio

Timken Co (TKR) : Premier Asset Managment added new position in Timken Co during the most recent quarter end. The investment management firm now holds 14,000 shares of Timken Co which is valued at $479,640 , the company said in a statement filed on Oct 13, 2016 with the SEC.Timken Co makes up approximately 0.12% of Premier Asset Managment’s portfolio.

Other Hedge Funds, Including , Raymond James Trust N.a. boosted its stake in TKR in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 7,378 shares of Timken Co which is valued at $257,418. Timken Co makes up approx 0.02% of Raymond James Trust N.a.’s portfolio. Cutler Group Lp sold out all of its stake in TKR during the most recent quarter. The investment firm sold 147 shares of TKR which is valued $5,129.Independent Portfolio Consultants boosted its stake in TKR in the latest quarter, The investment management firm added 1,695 additional shares and now holds a total of 44,274 shares of Timken Co which is valued at $1,567,742. Timken Co makes up approx 0.49% of Independent Portfolio Consultants’s portfolio.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 -0.4 points or -1.15% at $34.49 with 3,73,230 shares getting traded on Tuesday. Post opening the session at $34.69, the shares hit an intraday low of $34.34 and an intraday high of $34.84 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.

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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