D. E. Shaw & Co. Inc. Purchases New Shares in The Timken Company (NYSE:TKR)

D. E. Shaw & Co. Inc. acquired a new position in shares of The Timken Company (NYSE:TKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 172,873 shares of the industrial products company's stock, valued at approximately $12,338,000. D. E. Shaw & Co. Inc. owned approximately 0.25% of Timken at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in Timken by 79.4% in the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock valued at $1,915,000 after purchasing an additional 11,876 shares during the last quarter. Barclays PLC grew its position in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after buying an additional 59,716 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Timken in the fourth quarter worth approximately $14,460,000. Janney Montgomery Scott LLC grew its stake 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Timken during the 4th quarter worth about $574,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Loop Capital reduced their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their price target on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday. DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Morgan Stanley reduced their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $78.50.

Timken Price Performance

TKR traded down $0.48 on Monday, hitting $73.20. 51,643 shares of the company were exchanged, compared to its average volume of 705,699. 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 capitalization of $5.12 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. The business's fifty day moving average is $67.49 and its 200 day moving average is $73.52. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $92.34.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share 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 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 period in the previous year, the firm posted $1.77 EPS. As a group, sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed 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 is a boost from Timken's previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. Timken's dividend payout ratio is currently 30.17%.

Timken Company 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.