Timken (NYSE: TKR) Hits New 52-Week High at $50.01

Resource from: Timken Likes:3131

Jan 06,2011

(January 5, 2011) Shares of Timken (NYSE: TKR) hit a new 52-week high on Wednesday. The stock traded as high as $50.01 during mid-day trading and last traded at $49.64. The stock previously closed at $49.43. The Timken Company (Timken) develops, manufactures, markets and sells products for friction management and power transmission, alloy steels and steel components. Timken’s portfolio includes a range of friction management products and maintenance services. The Company also manufactures power transmission components and assemblies, as well as systems such as helicopter transmissions, alloy steel, bars and tubing, finished and semi-finished steel components. Timken’s global footprint consists of 47 manufacturing facilities, eight technology and engineering centers, 12 distribution centers. Timken operates in 26 countries and territories. The Company operates under two business groups: the Steel Group and the Bearings and Power Transmission Group. The Bearings and Power Transmission Group is composed of three operating segments: Mobile Industries, Process Industries and Aerospace and Defense. Timken (NYSE: TKR) traded up 0.77% during mid-day trading on Wednesday. The stock has a 52 week low of $22.03 and a 52 week high of $49.92. Its 50-day moving average is $46.58 and its 200-day moving average is $38.07. The company has a market cap of $4.836 billion and a price-to-earnings ratio of 29.46.

(Timken)

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