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Timken Co. (TKR)

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  • Oct. 16, 2014, 3:17 PM
  • Oct. 1, 2014, 2:00 PM
  • Oct. 24, 2013, 11:47 AM
  • Sep. 6, 2013, 8:58 AM
  • Sep. 5, 2013, 5:39 PM
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  • Sep. 5, 2013, 4:19 PM
  • Aug. 5, 2013, 1:46 PM
  • Jul. 25, 2013, 3:36 PM
    Timken (TKR -4.9%) tumbles after Q2 earnings miss estimates. A 16% Y/Y drop in revenue is attributed to lower demand as well as "the impact of the company's market strategy in the light-vehicle sector." CEO James Griffith says TKR did well to maintain double-digit operating margins in a weak market but notes that the "outlook for the year now reflects a more modest market recovery." Revenue growth by segment: Mobile Industries, -12%; Process Industries, -23%; Aerospace, -6%; Steel, -29%. FY13 outlook: $3.30-3.60/ share on -10% revenue growth. Consensus is $3.97/ share. On the call, management declines to discuss its ongoing evaluation of a steel business spinoff. (PR, CC transcript)
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  • Jul. 8, 2013, 1:51 PM
    Timken (TKR -1.9%) slips today after hitting a new 52-week high last week. Bank of America (Buy) cuts its price target on the shares to $65 from $68 noting that although there is likely "further embedded value [on] a high probability of a split up … forecasts for a sharp H2 rebound need to come down in light of sluggish top-line momentum."
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  • Jul. 5, 2013, 11:24 AM
    Shares of Timken (TKR +2.2%) hit a new 52-week high and are now up some 26% YTD as the company mulls a spinoff of its steel business. Meanwhile, the stock's performance helped fuel a ~25% gain for activist fund Relational Investors which has spearheaded the push for the split.
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  • May 7, 2013, 11:03 AM
    53% of voting shareholders supported CalSTRS and Relational Investors' proposal to spinoff Timken's (TKR +2.8%) steel business, an idea the company has repeatedly criticized for undervaluing synergies and being generally "misguided" (I, II, III). The proposal received the support of proxy advisory firm Glass Lewis & Co. last month and many believe the combined market cap of the two separate firms (bearings and steel) would be greater than that of the conglomerate. The proposal is non-binding and TKR says it will "evaluate" shareholders' views and "take steps" within 45 days. All 12 board members were re-elected.
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  • Nov. 28, 2012, 5:42 PM
    After-hours top gainers, as of 5:15 p.m.: BLOX +17.2%. SMTC +7.6%. GES +5.2%. ARQL +4.7%. WDAY +3.8%
    After-hours top losers: IDIX -14.7%. LZB -13.3%. TKR -10.4%. ARO -7.2%. VECO -7.1%
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  • Apr. 25, 2012, 2:40 PM
    Specialty steel manufacturer Timken (TKR +7.4%) gains after its Q1 beats across the board on double-digit growth in earnings and revenue. The company posted solid profit from all major segments, and raises its FY12 guidance to a range of $6.10 - $6.40 per share, with sales estimates rising 7% - 10%.
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  • Jan. 27, 2012, 1:03 PM
    Timken (TKR +4%) rises as its Q4 earnings beat on both EPS and revenue. Profits jumped 21% on sales strength in its industrial supply business, as key buyers in automotive, construction and industrial equipment sectors ramped up orders. One of its key contributors was China, as the government made heavy investments infrastructure projects over the period.
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  • Aug. 31, 2011, 10:54 AM
    Timken (TKR +7.4%) acquires Drives LLC, a maker of highly engineered drive chains and augers, for $92m in cash, furthering its efforts to build up its power-transmission line of business.
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  • May 27, 2011, 12:39 PM
    Timken (TKR +3.1%) gaining after announcing that it will acquire the assets of Philadelphia Gear for $200M. It's part of an effort by Timken to target greater penetration into the growing energy and infrastructure sectors. (PR)
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Company Description
The Timken Co manufactures mechanical components. The Company along with its subsidiaries engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers power system rebuild and repair services.