TIMKEN’S LOSING ITS BEARINGS
July 5th, 2008 | by admin |Timken Corp’s (TKR) have has dropped over 20% since their inform in April, when the bearings and specialty poise anxiety said that its earnings were boosted by “capacity-expansion” initiatives, including a newborn industrialized bearing manufacturing being in Chennai, Bharat and a newborn aerospace and exactitude products artefact in Chengdu, China.
It’s quite doable that Timken’s underway toll imperfectness is attendant to their aerospace and accumulation products, which help the subject aviation, defense, health, and machine-tool sectors. Weakness in North USA haw be added concern, where the consort derives 65-70% of its coverall sales.
We’ve since downgraded Timken soured our “Recommended” list, as we would kinda be endowed in another steel-related plays much as Reliance Steel (RS) or U.S. Steel (X).
Timken Corp (TKR) is not advisable at this time, and currently holds a Dividend.com judgement of 3.3 discover of 5 stars.
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