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Timken Losing Its Bearings Tkr

Release time : 2015-06-11 13:02:26
Timken Corp (TKR) stock has dropped over 20% since their report in April, when the Miniature Bearings and specialty steel maker said that its earnings were boosted by capacity-expansion initiatives, including a new industrial Stainless Steel Bearings manufacturing plant in Chennai, India and a new aerospace and precision products facility in Chengdu, China. It quite possible that Timken current price weakness is related to their aerospace and defense products, which serve the civil aviation, defense, health, and machine-tool sectors. Weakness in North America may be another concern, where the company derives 65-70% of its overall sales. We ve since downgraded Timken off our Recommended list, as we would rather be invested in other steel-related plays such as Reliance Steel (RS) or U.S. Steel (X). Timken Corp (TKR) is not recommended at this time, and currently holds a Dividend.com rating of 3.3 out of 5 stars.