D. E. Shaw & Co. Inc. Takes Position in The Timken Company (NYSE:TKR)

D. E. Shaw & Co. Inc. bought a new position in shares of The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 172,873 shares of the industrial products company's stock, valued at approximately $12,338,000. D. E. Shaw & Co. Inc. owned about 0.25% of Timken at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TKR. Sterling Capital Management LLC increased its holdings in Timken by 79.4% in the 4th quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock valued at $1,915,000 after buying an additional 11,876 shares during the period. Barclays PLC boosted its position in Timken by 221.6% during the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after buying an additional 59,716 shares during the period. Raymond James Financial Inc. acquired a new stake in Timken during the 4th quarter worth approximately $14,460,000. Janney Montgomery Scott LLC lifted its position in shares of Timken by 25.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock worth $7,644,000 after purchasing an additional 22,003 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Timken in the 4th quarter worth approximately $574,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Trading Up 1.9%

TKR stock traded up $1.36 during midday trading on Friday, reaching $73.85. The company's stock had a trading volume of 616,409 shares, compared to its average volume of 565,015. 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 stock has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $73.66. The Timken Company has a 1 year low of $56.20 and a 1 year high of $92.34. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.51 and a beta of 1.30.

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

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio is 30.17%.

Analysts Set New Price Targets

Several analysts have recently issued reports on TKR shares. Citigroup upped their target price on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Oppenheimer decreased their price target on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Loop Capital decreased their price objective on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group restated a "hold" rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Evercore ISI increased their price target on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $80.20.

About Timken

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.