Cooke & Bieler LP Invests $18.04 Million in Timken Company (The) (NYSE:TKR)

Cooke & Bieler LP purchased a new stake in Timken Company (The) (NYSE:TKR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 251,020 shares of the industrial products company's stock, valued at approximately $18,041,000. Cooke & Bieler LP owned about 0.36% of Timken at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKR. Verdence Capital Advisors LLC increased its stake in shares of Timken by 31.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 5,943 shares of the industrial products company's stock worth $427,000 after purchasing an additional 1,413 shares during the last quarter. Victory Capital Management Inc. grew its stake in Timken by 108.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock valued at $132,372,000 after buying an additional 959,672 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Timken by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the industrial products company's stock valued at $1,286,000 after buying an additional 200 shares during the last quarter. New York State Common Retirement Fund grew its stake in Timken by 108.1% in the 1st quarter. New York State Common Retirement Fund now owns 424,121 shares of the industrial products company's stock valued at $30,482,000 after buying an additional 220,294 shares during the last quarter. Finally, Genus Capital Management Inc. grew its stake in Timken by 172.0% in the 1st quarter. Genus Capital Management Inc. now owns 3,780 shares of the industrial products company's stock valued at $272,000 after buying an additional 9,033 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Price Performance

Shares of Timken stock traded up $0.15 on Friday, reaching $79.28. 634,982 shares of the stock were exchanged, compared to its average volume of 588,395. The firm's 50 day moving average is $73.04 and its 200-day moving average is $72.84. Timken Company has a one year low of $56.20 and a one year high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The firm has a market cap of $5.55 billion, a PE ratio of 17.09, a P/E/G ratio of 1.89 and a beta of 1.27.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data 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 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. As a group, analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were given a $0.35 dividend. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, May 13th. Timken's dividend payout ratio is 30.17%.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research reports. Citigroup upped their price target on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Oppenheimer cut their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group cut their price objective 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. DA Davidson boosted their price objective on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Timken presently has a consensus rating of "Hold" and an average price target of $79.00.

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.