Timken adds Hillenbrand CEO Kim Ryan to its board

NORTH CANTON, Ohio - The Timken Company (NYSE: NYSE:), known for its engineering bearings and concern question products and presently valued astatine $5.4 cardinal successful marketplace capitalization, has expanded its Board of Directors with the assignment of Kimberly K. Ryan, effectual today. Ryan's predetermination brings the full fig of committee members to 13. According to InvestingPro analysis, Timken maintains beardown fiscal wellness with a "Good" wide standing and has consistently raised its dividend for 11 consecutive years.

Currently serving arsenic the president and CEO of Hillenbrand, Inc. (NYSE: NYSE:), Ryan has been astatine the helm of the planetary concern institution since 2021. Her tenure astatine Hillenbrand includes enactment of Coperion, its largest business, from 2015 to 2021. Ryan's vocation began astatine Batesville, a erstwhile Hillenbrand subsidiary, successful 1989, wherever she ascended done assorted roles successful finance, strategy, operations, and more.

John M. Timken, Jr., Chairman of The Timken Company, praised Ryan's appointment, citing her wide concern acquisition and enforcement enactment arsenic invaluable assets to the board. As a caller committee member, Ryan volition lend to the Compensation and Audit committees.

Ryan's world inheritance includes a bachelor's grade successful concern medication and accounting from Iowa State University. She is besides progressive successful the broader concern community, holding positions connected the National Association of Manufacturers Board of Directors and the Dean's Advisory Council astatine Iowa State University's Ivy School of Business.

The Timken Company, with a past spanning implicit 125 years, reported income of $4.8 cardinal successful 2023 and employs astir 19,000 radical worldwide. The institution presently trades beneath its InvestingPro Fair Value, with a steadfast existent ratio of 3.0 and beardown profitability metrics. For deeper insights into Timken's fiscal wellness and maturation prospects, investors tin entree the broad Pro Research Report, disposable exclusively connected InvestingPro, covering implicit 1,400 US stocks. This quality is based connected a property merchandise statement.

In different caller news, Timken has seen notable changes arsenic analysts from Citi and Evercore ISI upgraded the company's stock. Citi moved Timken from Neutral to Buy, mounting a caller terms people of $90, citing the imaginable concern rebound successful 2025 and the company's charismatic valuation. Evercore ISI besides upgraded Timken from In Line to Outperform, with a revised terms people of $91, highlighting the imaginable for restructuring nether the caller CEO.

In presumption of fiscal performance, Timken reported a 1.4% year-over-year diminution successful gross to $1.13 cardinal successful its Q3 net call. Adjusted EBITDA margins besides decreased to 16.9%, and net per stock dropped from $1.55 to $1.23. These changes were attributed to little volumes and accrued logistics costs. The institution revised its full-year 2024 gross outlook to a 4% alteration and expects an adjusted EPS betwixt $5.55 and $5.65.

Timken besides closed the acquisition of CGI, strengthening its presumption successful the aesculapian robotics and automation sector. The institution has initiated cost-reduction efforts, including installation rationalizations and workforce reductions. These caller developments bespeak Timken's committedness to maintaining competitiveness and maturation amidst existent marketplace uncertainties.

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