Baker Ellis Asset Management LLC Increases Position in The Timken Company (NYSE:TKR)

Baker Ellis Asset Management LLC increased its stake in The Timken Company (NYSE:TKR - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,590 shares of the industrial products company's stock after acquiring 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 hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock worth $461,461,000 after purchasing an additional 26,973 shares during the last quarter. American Century Companies Inc. lifted its stake in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after purchasing an additional 320,354 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Timken by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock worth $159,403,000 after purchasing an additional 124,676 shares during the last quarter. Earnest Partners LLC lifted its stake in Timken by 0.3% in the fourth quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock worth $92,433,000 after purchasing an additional 3,594 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Timken by 5.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company's stock worth $91,711,000 after purchasing an additional 63,485 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TKR shares. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Loop Capital lowered their price objective on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Citigroup upped their price objective on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, DA Davidson upped their price objective on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $78.50.

Timken Trading Down 2.0%

Shares of NYSE TKR traded down $1.43 during midday trading on Friday, hitting $70.63. 351,442 shares of the company traded hands, compared to its average volume of 575,148. The Timken Company has a 12-month low of $56.20 and a 12-month high of $90.49. 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 50-day moving average price of $67.37 and a 200 day moving average price of $72.74. The firm has a market cap of $4.94 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly 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). Timken had a net margin of 7.71% and a return on equity of 13.93%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. Timken's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.98%. This is a boost from Timken's previous quarterly dividend of $0.34. Timken's payout ratio is currently 30.17%.

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.