Baker Ellis Asset Management LLC Acquires 3,635 Shares of The Timken Company (NYSE:TKR)

Baker Ellis Asset Management LLC raised its holdings in The Timken Company (NYSE:TKR - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,590 shares of the industrial products company's stock after purchasing an additional 3,635 shares during the period. Baker Ellis Asset Management LLC owned about 0.09% of Timken worth $4,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Timken by 418.4% in the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after purchasing an additional 711,979 shares during the period. Norges Bank bought a new position in shares of Timken in the 4th quarter worth about $42,748,000. Millennium Management LLC boosted its holdings in shares of Timken by 1,421.1% in the 4th quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock valued at $32,737,000 after buying an additional 428,545 shares during the period. American Century Companies Inc. grew its position in shares of Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after buying an additional 320,354 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in shares of Timken by 193.8% during the 4th quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company's stock valued at $26,014,000 after buying an additional 240,417 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Stock Up 0.2%

NYSE:TKR traded up $0.16 during trading hours on Thursday, hitting $72.40. 116,558 shares of the company's stock traded hands, compared to its average volume of 573,320. The stock's fifty day moving average price is $66.84 and its two-hundred day moving average price is $72.84. The firm has a market cap of $5.07 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.51 and a beta of 1.28. 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 Timken Company has a twelve month low of $56.20 and a twelve month high of $90.49.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 13.93% and a net margin of 7.71%. Timken's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. On average, research analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.93%. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. Timken's dividend payout ratio (DPR) is currently 30.17%.

Wall Street Analyst Weigh In

TKR has been the subject of several recent research reports. DA Davidson upped their price target on shares of Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Citigroup increased their price target on Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Oppenheimer lowered their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley cut their target price on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Timken presently has a consensus rating of "Hold" and an average target price of $78.50.

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.