Balyasny Asset Management L.P. Has $4.12 Million Holdings in The Timken Company (NYSE:TKR)

Balyasny Asset Management L.P. cut its stake in The Timken Company (NYSE:TKR - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,702 shares of the industrial products company's stock after selling 32,165 shares during the period. Balyasny Asset Management L.P. owned about 0.08% of Timken worth $4,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Timken by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 97,084 shares of the industrial products company's stock valued at $6,929,000 after buying an additional 1,206 shares during the last quarter. Freestone Grove Partners LP bought a new position in Timken during the fourth quarter worth about $258,000. Parvin Asset Management LLC acquired a new stake in Timken during the 4th quarter worth $66,000. Becker Capital Management Inc. bought a new position in shares of Timken during the 4th quarter valued at about $15,550,000. Finally, Comerica Bank boosted its holdings in shares of Timken by 5.3% in the fourth quarter. Comerica Bank now owns 57,571 shares of the industrial products company's stock valued at $4,109,000 after buying an additional 2,903 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Up 0.3 %

Shares of TKR opened at $68.62 on Friday. The firm's 50-day simple moving average is $67.77 and its 200 day simple moving average is $74.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The firm has a market cap of $4.80 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. The Timken Company has a 52 week low of $56.20 and a 52 week high of $93.66.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. Timken's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. On average, analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. Timken's dividend payout ratio (DPR) is currently 30.17%.

Analysts Set New Price Targets

Several equities research analysts have commented on TKR shares. The Goldman Sachs Group cut their target price on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Loop Capital decreased their price objective on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Finally, Evercore ISI boosted their target price on shares of Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $80.20.

Timken Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.

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