CenterBook Partners LP lowered its position in shares of Timken Company (The) (NYSE:TKR - Free Report) by 28.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,267 shares of the industrial products company's stock after selling 5,606 shares during the period. CenterBook Partners LP's holdings in Timken were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Amundi increased its stake in shares of Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after purchasing an additional 174 shares during the period. Parvin Asset Management LLC bought a new position in shares of Timken during the fourth quarter worth approximately $66,000. UMB Bank n.a. increased its holdings in shares of Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC increased its holdings in shares of Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after purchasing an additional 847 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in shares of Timken during the first quarter worth approximately $108,000. Institutional investors own 89.08% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on TKR. Morgan Stanley lowered their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson lifted 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. Oppenheimer decreased 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. Evercore ISI decreased their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, The Goldman Sachs Group decreased their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken has a consensus rating of "Hold" and a consensus target price of $79.00.
Read Our Latest Research Report on TKR
Timken Price Performance
Shares of NYSE TKR traded up $0.15 during midday trading on Friday, reaching $79.28. 634,982 shares of the company were exchanged, compared to its average volume of 586,141. The stock's 50-day moving average price is $72.82 and its 200-day moving average price is $72.76. The stock has a market cap of $5.55 billion, a P/E ratio of 17.09, a PEG ratio of 1.82 and a beta of 1.27. Timken Company has a one year low of $56.20 and a one year high of $90.49. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68.
Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. Timken's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, sell-side analysts anticipate that Timken Company will post 5.62 earnings per share for the current fiscal year.
Timken Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's payout ratio is 30.17%.
About Timken
(
Free Report)
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.
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