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4-Traders Homepage  >  Equities  >  Nyse  >  Timken Co    TKR

TIMKEN CO (TKR)
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Timken : Community foundation awarded $100,000 grant from Timken Foundation

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11/06/2017 | 11:49am CEST

The Cherokee County Community Foundation was recently awarded a $100,000 grant from the Timken Foundation of Canton, in honor of CCCF's upcoming 25th anniversary. The gift will grow CCCF's endowment by almost 20 percent to $560,000, which will increase the grant-making dollars available to local nonprofits.

The gift was particularly special to the Cherokee County Community Foundation, given its long history with the Timken Foundation, which gave a $100,000 gift in 1994 to help start CCCF.

Cody Sossamon, Cherokee County Community Foundation board chair, said Timken has a long history of generosity in the area. The Timken Company – the global manufacturer started by the Timken family, members of which began the Timken Foundation – has a plant in Gaffney and has helped support local nonprofits for nearly 50 years.

"Limestone College, Boys and Girls Clubs of the Upstate, Cherokee County School District, CHAPS, the Gaffney Little Theatre and many more have been the beneficiaries of the (Timken) Foundation's generosity," Sossamon said. "Almost 25 years ago, the Cherokee County Community Foundation was formed with $100,000 grants each from the Fullerton Foundation and the Timken Foundation.

"On behalf our board and all of Cherokee County, I convey our utmost appreciation to the Timken Foundation for their second $100,000 grant to our community foundation. As with the initial grant, these funds will be used wisely to improve the quality of life in our county."

The Cherokee County Community Foundation, a regional affiliate of Foundation For The Carolinas in Charlotte, has awarded nearly $350,000 to local grant-making since it was established and has more than $3 million in charitable assets. For more information about the Foundation and to view a list of recent grants, visit www.cherokeecountycf.org. About Cherokee County Community Foundation

The Cherokee County Community Foundation was established in 1994 by local leaders to encourage philanthropy and secure resources to address local issues. The Foundation brings together charitable donors, community leaders and nonprofits to make positive impacts in Cherokee County, S.C. Led by a local board of trustees, the Foundation has awarded more than $350,000 in grants to area nonprofits since inception.

© Copyright, 2017, The Gaffney Ledger, All Rights Reserved., source Newspapers

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Financials ($)
Sales 2018 3 518 M
EBIT 2018 463 M
Net income 2018 309 M
Debt 2018 466 M
Yield 2018 2,51%
P/E ratio 2018 11,13
P/E ratio 2019 9,70
EV / Sales 2018 1,12x
EV / Sales 2019 1,05x
Capitalization 3 472 M
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 58,5 $
Spread / Average Target 34%
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Managers
NameTitle
Richard G. Kyle President, Chief Executive Officer & Director
John M. Timken Non-Executive Chairman
Richard M. Boyer Vice President-Operations
Philip Dominic Fracassa Chief Financial Officer & Executive Vice President
Stephen P. Johnson Director-Research & Development
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