(This story was updated to add new information.)
JACKSON TWP. – Timken Co. stock hit an all-time high of $143.56 by mid-afternoon of June 17.
The Jackson Township-based engineered bearings and industrial motion manufacturer outperformed first-quarter earnings expectations, and its stock has been on an upward trajectory in recent months. Shares were trading around $70 at this time last year.
Mike Discenza, the company’s executive vice president and chief financial officer, attributed the investor confidence to Timken’s long-term strategy.
“We believe investors are already recognizing the strength of the strategy we unveiled at our May 20 Investor Day in New York City and the disciplined execution now underway across Timken,” he said in a prepared statement.
“Our transformation focuses on streamlining the portfolio, doubling down on areas where we win and scaling our best technologies globally.”
The “Elevate to Outperform” strategy aims to shift the company’s focus from engineered bearings components to industrial motion systems. It involves exiting underperforming markets and investing in areas for strategic growth.
“Execution of our plan is well underway to achieve compelling 2028 financial targets and deliver enhanced value to our customers and shareholders over the long term,” President and CEO Lucian Boldea said in the announcement.
By 2028, the company intends to hit $5 billion to $5.2 billion in total sales and an earnings per share value of $8.50 — a more than 55% increase compared to 2025. The company reported $4.58 billion in sales for 2025 and earnings of $4.11 per share.
The Timken Co. stock, which trades under TKR on the New York Stock Exchange, closed at $139.40 on June 17.
“The stock has been exceptionally strong,” said Justin Bergner, portfolio manager with the global investment firm Gabelli Funds. “Industrial stocks have been quite strong over the last few weeks, more broadly.”
Bergner attended Timken’s Investor Day and said there were three takeaways that impressed investors:
Reach Kelly at 330-580-8323 or kelly.byer@cantonrep.com
This article originally appeared on The Repository: Stock for Stark County-based Timken Co. hits all-time high
Reporting by Kelly Byer, Canton Repository / The Repository
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By Kelly Byer, Canton Repository | USA TODAY Network
