Weak industrial markets likely will lead to lower sales for Timken Co. during 2016, but the company projects a profit. Revenue is projected to slip 4 to 5 percent when compared with 2015 sales numbers.
Timken Co. (TKR) experienced unusually high volume on Feb. 04, as the stock gained 3.46% to a closing price of $28.99. The stock saw 1.63 million shares trade hands over the course of the day on 14,925 trades.
Timken logo Fruth Investment Management decreased its position in shares of Timken Co (NYSE:TKR) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission.
Timken Co (NYSE:TKR) was downgraded by equities research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports.