KBC Group NV decreased its holdings in shares of Timken Co (NYSE:TKR) by 45.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,571 shares of the industrial products company’s stock after selling 31,665 shares during the quarter. KBC Group NV’s holdings in Timken were worth $1,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Timken by 1,368.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 2,052 shares during the period. Bank of Montreal Can acquired a new position in shares of Timken in the second quarter valued at about $123,000. Integrated Investment Consultants LLC acquired a new position in shares of Timken in the second quarter valued at about $220,000. Palouse Capital Management Inc. acquired a new position in shares of Timken in the second quarter valued at about $222,000. Finally, Pitcairn Co. acquired a new position in shares of Timken in the second quarter valued at about $233,000. 78.43% of the stock is owned by institutional investors.

Shares of TKR stock opened at $47.55 on Monday. Timken Co has a 52 week low of $41.85 and a 52 week high of $55.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.39 and a quick ratio of 1.30. The company has a market cap of $3.67 billion, a PE ratio of 18.08, a P/E/G ratio of 0.76 and a beta of 1.60.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.03. Timken had a net margin of 7.60% and a return on equity of 18.39%. The business had revenue of $906.30 million during the quarter, compared to the consensus estimate of $904.77 million. During the same quarter last year, the firm posted $0.68 EPS. Timken’s revenue was up 20.7% compared to the same quarter last year. sell-side analysts expect that Timken Co will post 4.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Friday, August 17th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, August 16th. Timken’s payout ratio is currently 42.59%.

TKR has been the topic of several research reports. Stifel Nicolaus upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $60.00 in a research note on Monday, May 28th. Vertical Research upgraded shares of Timken from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. ValuEngine upgraded shares of Timken from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. CL King initiated coverage on shares of Timken in a report on Thursday, June 28th. They issued a “neutral” rating for the company. Finally, Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.40.

In other Timken news, CFO Philip D. Fracassa sold 3,582 shares of Timken stock in a transaction on Friday, August 10th. The shares were sold at an average price of $48.39, for a total transaction of $173,332.98. Following the transaction, the chief financial officer now directly owns 43,534 shares of the company’s stock, valued at approximately $2,106,610.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ward J. Timken, Jr. sold 4,002 shares of Timken stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total transaction of $196,498.20. Following the transaction, the director now directly owns 269,902 shares in the company, valued at $13,252,188.20. The disclosure for this sale can be found here. In the last three months, insiders sold 8,627 shares of company stock valued at $420,782. 11.15% of the stock is currently owned by insiders.