The 52-week price range is $ 22.03 – 41.74 and the company has a market capitalization of $ 2.56B. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 5 has assigned a hold rating, zero says it’s a buy, and 3 have assigned a strong buy rating to the company.
Timken Co (TKR) on March 22, 2016 released its 2015 Annual Report to shareholders and announced its 2016 Annual Meeting will be held on May 10. As reported, the company achieved solid performance for the year, successfully navigating market headwinds while setting sights on future growth.
“We operated The Timken Company with great intensity in 2015, driving efficiencies, reducing costs, protecting margins and generating strong cash flow, all while competing to win our customers’ bearings and power transmission business,” wrote Richard G. Kyle, president and CEO, in his letter to shareholders. “We will remember the year as a challenging one, but also as one that validated our strategy and proved our many strengths.”
Kyle noted that the company removed more than $60 million in costs, produced strong free cash flow and delivered double-digit operating margins. It also acquired the Carlisle® belts product line, expanding the Timken portfolio into a new power transmission product category, and invested in organic growth initiatives.
“Through continued investment in DeltaX, our multi-year global initiative to fuel organic growth in bearings, we are accelerating our product development rate, expanding our best-in-class technical sales model and increasing global market penetration,” said Kyle.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, and chain and related products worldwide. It operates in two segments: Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chain, augers, belts, and related products and maintenance services to original equipment manufacturers (OEMs) of off-highway equipment for the agricultural, construction, and mining markets. It also provides parts to on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives; and power transmission systems and flight-critical components for civil and military aircraft, which comprise bearings, helicopter transmission systems, rotor-head assemblies, turbine engine components, gears, and housings.
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