Holowesko Partners Ltd. Exits Position in Timken Co (TKR)

Timken Co (TKR) : Holowesko Partners Ltd. has sold out all of its stake in Timken Co during the most recent quarter, according to the disclosure filed by the company on Aug 9, 2016 with the SEC. The investment management company has sold out 1,702,700 shares of Timken Co which is valued at $58,164,232.

Other Hedge Funds, Including , Cadence Capital Management boosted its stake in TKR in the latest quarter, The investment management firm added 31,363 additional shares and now holds a total of 125,100 shares of Timken Co which is valued at $4,180,842. Timken Co makes up approx 0.30% of Cadence Capital Management’s portfolio. Spot Trading L.l.c added TKR to its portfolio by purchasing 1,147 company shares during the most recent quarter which is valued at $38,333. Timken Co makes up approx 0.01% of Spot Trading L.l.c’s portfolio. Fox Run Management L.l.c. added TKR to its portfolio by purchasing 12,500 company shares during the most recent quarter which is valued at $395,000. Timken Co makes up approx 0.18% of Fox Run Management L.l.c.’s portfolio. Simplex Trading sold out all of its stake in TKR during the most recent quarter. The investment firm sold 16,533 shares of TKR which is valued $522,443.

Timken Co opened for trading at $33.5 and hit $33.67 on the upside on Wednesday, eventually ending the session at $33.63, with a gain of 0.27% or 0.09 points. The heightened volatility saw the trading volume jump to 3,24,908 shares. Company has a market cap of $2,633 M.

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. Topeka Capital Markets Initiated Timken Co on May 26, 2016 to “Hold”, Price Target of the shares are set at $35.

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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