Benson Investment Management Company Inc. Acquires New Holdings in The Timken Company (NYSE:TKR)

Benson Investment Management Company Inc. bought a new position in shares of The Timken Company (NYSE:TKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 54,715 shares of the industrial products company's stock, valued at approximately $3,932,000. Benson Investment Management Company Inc. owned approximately 0.08% of Timken as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its position in Timken by 79.4% during the 4th quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock worth $1,915,000 after purchasing an additional 11,876 shares in the last quarter. Barclays PLC grew its position in Timken by 221.6% in the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after acquiring an additional 59,716 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Timken in the fourth quarter valued at approximately $14,460,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Timken in the fourth quarter valued at approximately $574,000. Finally, Blue Trust Inc. grew its position in Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock valued at $134,000 after acquiring an additional 880 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TKR shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Citigroup increased their price objective on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Evercore ISI lowered their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Morgan Stanley lowered their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, 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 report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $78.50.

Timken Stock Up 1.5%

Shares of TKR stock traded up $1.09 during mid-day trading on Friday, reaching $71.84. 331,079 shares of the company were exchanged, compared to its average volume of 574,198. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week 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 company has a market capitalization of $5.03 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.51 and a beta of 1.28. The business's 50 day simple moving average is $66.36 and its 200 day simple moving average is $72.89.

Timken (NYSE:TKR - Get Free Report) last released its quarterly 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). Timken had a return on equity of 13.93% and a net margin of 7.71%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business posted $1.77 EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts predict that The Timken Company will post 5.62 earnings per share for the current 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 paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.95%. Timken's dividend payout ratio (DPR) is 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.